Sep 22, 2021 (China Knowledge) - Hangzhou Wensli Silk Culture (301066) opened at RMB 22 on its first day trading on the Shenzhen ChiNext Market, an increase of 320% from its IPO price of RMB 5.24.
The shares price ended the day at RMB 20.2, soaring 285% from its issue price. Its intraday high and low were RMB 23 and RMB 19.99, respectively. A total of 22 mln shares changed hands with a turnover of RMB 465.5 mln, and ending the day with a total market capitalization of RMB 2.7 bln.
Hangzhou Wensli Silk Culture manufactures and distributes textile products. The Company produces silks, scarves, silk crafts, silk fabrics, home textiles, and other products. Hangzhou Wensli Silk Culture also provides cosmetics, stationery products, and other products.
Hangzhou Wensli Silk Culture reported in its prospectus that the funds raised from the IPO will be used to construct a display center for marketing , expand its production capacity in digital printing, and to supplement its working capital.
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