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Beilu Pharmaceutical's shares up 62.37% at debut on ChiNext

Oct. 30, 2009 (China Knowledge) - Beijing Beilu Pharmaceutical Co Ltd<300016>, which is mainly engaged in the manufacture and sale of pharmaceuticals, debuted on the ChiNext Board on the Shenzhen Stock Exchange today, becoming one of the first companies to trade on the Nasdaq-style board.

Shares of the company opened at RMB 29, a price 62.37% higher than the IPO price, while the Shenzhen Component Index opened 1.92% higher at 12427.10 points.

The company raised RMB 123.89 million by issuing 17 million shares, or 25.04% of the company’s enlarged capital. UBS Securities Co was the underwriter of the offering.

Beijing Beilu Pharmaceutical, established in Beijing Zhongguancun Science Park in 1992, posted RMB 170.84 million of operating revenue in the third quarter of this year, with net profit hitting RMB 26.72 million during the period.


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