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Western Securities up 66.67% in its first day trading in Shenzhen

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.

Xi'an, Shaanxi Province-based Western Securities raised RMB 1.74 billion through an initial public offering on the Shenzhen bourse.

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.

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