Huinan Changlong debuts at HK$1, up 100% vs the placing price

Jilin Province Huinan Changlong Bio-pharmacy Company (8049) was listed for the first day and debuted at HK$1, up HK$0.5, or 100% compared with the placing price of HK$0.5 each.

The company issued 150 mln H shares, of which 10% were old shares and the rest 90% were new shares, at HK$0.5 to raise HK$75 mln. The underwriter demanded to place extra 22.5 mln shares and thus made the raised capital increase to HK$86.25 mln.

The company will join in the HSCEI Index composite stocks on May 25.

Related stock : (8049)