Jul 28, 2021 (China Knowledge) - Shanghai HYP-ARCH Architectural Design Consultant (301024) opened at RMB 75 on its first day trading on the Shenzhen ChiNext Market, an increase of 55% from its IPO price of RMB 48.52.
The shares price ended the day at RMB 72.32, soaring 49% from its issue price. Its intraday high and low were RMB 100 and RMB 70.01, respectively. A total of 5.2 mln shares changed hands with a turnover of RMB 422.4 mln, and ending the day with a total market capitalization of RMB 3.1 bln.
Shanghai HYP-ARCH Architectural Design Consultant reported in its prospectus that the funds raised from the IPO will be used to invest in headquarters operation management center, upgrade its design service network, and to build a R&D center.
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