Markets· Equity· IPO

Chuzhou Duoli Automotive Technology debuts on Shenzhen Stock Exchange, rose 44%

minutes 2023/02/27 13:49:13

Feb 27, 2023 (China Knowledge) - Chuzhou Duoli Automotive Technology (001311) opened at RMB 74.24 on its first day trading on the Shenzhen Stock Exchange's Main Board, an increase of 19.99% from its IPO price of RMB 61.87.

The shares price ended the day at RMB 89.09, soaring 44% from its issue price. Its intraday high and low were RMB 89.09 and RMB 74.24, respectively. A total of 2.3 mln shares changed hands with a turnover of RMB 207.7 mln, and ending the day with a total market capitalization of RMB 12.6 bln.

Chuzhou Duoli Automotive Technology Co., Ltd. manufactures and distributes automobile parts. The Company produces roof rails, body hinge pillar inner panels, window frames, automobile stampings, and other products. Chuzhou Duoli Automotive Technology also operates import and export businesses.

Chuzhou Duoli Automotive Technology reported in its prospectus that the funds raised from the IPO will be used to build its auto parts automation factory, and to supplement its working capital.

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