China’s 3rd largest stock bro­ker­age up 44% on Shang­hai de­but

Financial Mirror (Cyprus) - - FRONT PAGE -

Shares in Guo­tai Ju­nan Se­cu­ri­ties, China’s third largest stock bro­ker­age firm by as­sets, started trad­ing on the Shang­hai stock ex­change on Fri­day, ac­cord­ing to Xin­hua.

At the open­ing, the stocks rose 44%, the max­i­mum al­lowed on a new stock’s first trad­ing day, to 28.38 yuan ($4.64).

The com­pany’s shares opened for sub­scrip­tion last Thurs­day at a price of 19.71 yuan per share to raise more than 30 bln yuan, the largest do­mes­tic ini­tial public of­fer­ing in five years.

Guo­tai Ju­nan was es­tab­lished in 1999 af­ter the merger of for­mer Guo­tai Se­cu­ri­ties and Ju­nan Se­cu­ri­ties, which were both founded in 1992.

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