Rastar Environmental Protection Materials debuts on Shenzhen Stock Exchange, fell 9%
Jan 13, 2022 (China Knowledge) - Rastar Environmental Protection Materials (300834) opened at RMB 51.98 on its first day trading on the Shenzhen ChiNext Market, an decrease of 6% from its IPO price of RMB 55.57.
The shares price ended the day at RMB 50.5, falling 9% from its issue price. Its intraday high and low were RMB 52.34 and RMB 50, respectively. A total of 19 mln shares changed hands with a turnover of RMB 965 mln, and ending the day with a total market capitalization of RMB 9.8 bln.
Rastar Environmental Protection Materials Co.,Ltd. produces and sells chemical products. The Company manufactures and sells general purposep olystyrene, high impact polystyrene, and non-vulcanizable elastomers. Rastar Environmental Protectionmaterials markets its products throughout China.
Rastar Environmental Protection Materials reported in its prospectus that the funds raised from the IPO will be used to expand its production capacity of new polystyrene material.
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