Jun 08, 2021 (China Knowledge) - Shanghai Haoyuan Chemexpress (688131) shares soared 382.27% in its first day trading on the Shanghai Stock Exchange STAR Market today.
The firm’s shares price at market close reached RMB 313.43, higher than its IPO price of RMB 64.99 per share and closes with total market capitalization of RMB 23.3 bln.
Shanghai Haoyuan Chemexpress reported in its prospectus that the funds raised from the IPO will be used to upgrade its R&D center, constructing Anhui Haoyuan Pharmaceutical’s R&D center, and supplement working capital.
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