Changxin Technology Surges 471.59% on STAR Market Debut, Opening at RMB 49.50
Changxin Technology made its debut on the STAR Market on July 27, opening at RMB 49.50 per share, a 471.59% surge from its IPO price of RMB 8.66. The opening price implied a market capitalization of approximately RMB 3.3 trillion. The gain per lot was RMB 20,420. The company had a total of 66.881 billion shares after issuance, with 4.503 billion tradable shares initially, representing 6.73% of the total.
On July 27, Changxin Technology began trading on the STAR Market. During the call auction phase, the price reached a high of RMB 50 per share. The opening price was RMB 49.50 per share, up 471.59% from the IPO price of RMB 8.66 per share. The gain per lot was RMB 20,420. The company had a total of 66.881 billion shares after issuance, of which 4.503 billion shares were initially tradable, accounting for 6.73% of the total post-issuance share capital.