Nov. 27, 2009 (China Knowledge) - Four companies, namely Beijing Orient Landscape Co<002310>, Vtron Technologies<002308>, Zhongli Science and Technology Group Co<002309> and Guangdong Haid Group<002311>, made their debut on the SME Board of Shenzhen Stock Exchange today.
Shares of Beijing Orient Landscape surged the most among the four new stocks and closed at RMB 116.50, 98.81% above its IPO price of RMB 58.60. Share of Zhongli, Guangdong Haid and Vtron soared 43.57% 34.76%, 35.89% above their IPO prices to end the first day of trading at RMB 61.99, RMB 38.05 and RMB 34.17, respectively.
In contrast to the strong performance of the four new stocks, the Shenzhen Component Index, which covers 40 stocks traded at the mainboard of the Shenzhen Stock Exchange, shed 411.23 points, or 3.09%, to 12,876.15 today.
Earlier this month, Beijing Orient raised RMB 849.7 million by offering 14.5 million shares, or 28.95% of the enlarged share capital. Proceeds from the IPO will be used to fund its expansion nationwide and plant nursery projects.
Located in Suzhou, Jiangsu Province, Zhongli mainly produces new photoelectricity materials and products. The company issued 33.50 million shares, or 25.09% of the enlarged equity capital, in an IPO earlier this month and raised RMB 1.54 billion through the offering.
Vtron is mainly engaged in the design, manufacture, sales and service of high-resolution digital display systems. It issued 53.45 million new shares, or 25% of the enlarged equity capital in a public offering this month. In the first three quarters of this year, the company reaped RMB 85.55 million in net profit.
Guangdong Haid specializes in the R&D, production and sales of aquatic and livestock feeds. The company raised RMB 1.57 billion by issuing 56 million shares, or 25% of the enlarged share capital in an IPO.