Aug 02, 2021 (China Knowledge) - Jiangsu Gdk Biotechnology (688670) opened at RMB 88 on its first day trading on the Shanghai Stock Exchange's STAR Market, an increase of 59% from its IPO price of RMB 55.18.
The shares price ended the day at RMB 82.91, soaring 50% from its issue price. Its intraday high and low were RMB 100 and RMB 82.67, respectively. A total of 12.4 mln shares changed hands with a turnover of RMB 1.1 bln, and ending the day with a total market capitalization of RMB 7.3 bln.
Jiangsu Gdk Biotechnology reported in its prospectus that the funds raised from the IPO will be used to expand its production capacity, supplement its working capital, and to build a vaccine R&D center.
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