People.com.cn IPO Up 74% on First Day

Southern Daily, 4/28/12

Chinese government news portal People's Daily Online (people.com.cn) yesterday opened trading on the Shanghai Stock Exchange at RMB 31.01 per share and closed at RMB 34.72. The stock closed 73.6% higher than its issue price of RMB 20.00, and trading velocity reached 86.01%. Trading was suspended twice within one hour due to the stock price rising 10% above its opening price and its trading velocity surpassing 80%.

People's Daily Online issued a total of 276.42 mln shares, and closed on April 27 at RMB 34.72, giving the company a capitalization of roughly RMB 9.6 bln.

Editor's Note: For more information on this topic, please see "People's Daily Online to Raise USD 245 Mln in IPO," MD 4/17/12 and "People's Daily Online Sets Share Price," MD 4/17/12 issues.

Keywords: Internet IPO People's Daily Online online information service

Feedback

Sending

Disclaimer

The information contained in this newsletter is based upon sources that Marbridge Consulting believes to be reliable, and we have made every effort to translate the original articles or article excerpts as faithfully as possible. However, Marbridge Consulting makes no warranty of and assumes no legal responsibility for the accuracy of either the original source material or the English language translations.

Marbridge Daily