May. 3, 2012 (China Knowledge) - Western Securities Co<002673> , debuted on the Shenzhen Stock Exchange
today and saw its shares surge 66.67% on its first day of trading.
The A-shares of the company started trading at RMB 14.46, 66.21% higher than its IPO price of RMB 8.70. After fluctuating between RMB 13.50 and RMB 14.68, the shares closed at RMB 14.50 with the transaction volume of 112,448,700 shares.
Province-based Western Securities raised RMB 1.74 billion through an initial public offering on the Shenzhen
The company issued 200 million A-shares, equivalent to 17% its enlarged share capital.
The brokerage firm plans to use the proceeds from the offering to replenish its working capital.