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Chase Sun Pharmaceutical's shares up 61.92% at debut on ChiNext

Oct. 30, 2009 (China Knowledge) - Tianjin Chase Sun Pharmaceutical Co Ltd<300026> 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 97.15, a price 61.92% 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 12.59 million shares, or 25.01% of the company’s enlarged capital. Guodu Securities Co was the underwriter of the offering.

The Tianjin-based pharmaceutical company posted RMB 140.65 million of operating revenue in the third quarter of this year, with net profit standing at RMB 52.73 million. Its main product Xuebijing Injection is currently the only drug available for treating sepsis and multiple organ dysfunction syndrome in China

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