Sep 10, 2021 (China Knowledge) - Kunshan Guoli Electronic Technology (688103) opened at RMB 62 on its first day trading on the Shanghai Stock Exchange's STAR Market, an increase of 415% from its IPO price of RMB 12.04.
The shares price ended the day at RMB 74.2, soaring 516% from its issue price. Its intraday high and low were RMB 79.28 and RMB 62, respectively. A total of 17.2 mln shares changed hands with a turnover of RMB 1.2 bln, and ending the day with a total market capitalization of RMB 7.1 bln.
Kunshan GuoLi Electronic Technology manufactures and distributes electrical equipment. The Company produces ceramic vacuum relays, ceramic vacuum capacitors, ceramic vacuum switches, traveling wave tubes, vacuum contactors, circuit breakers, and other related products. Kunshan GuoLi Electronic Technology markets its products worldwide.
Kunshan Guoli Electronic Technology reported in its prospectus that the funds raised from the IPO will be used to expand its production capacity of vacuum relay and vacuum capacitor, research and develop electronic vacuum device, and to supplement its working capital.
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