New Stock Pingzhun Jumps 488.61% on STAR Market Debut, Market Value Reaches RMB 44 Billion
Newly listed stock Pingzhun surged 488.61% at the opening bell on its debut day on the Shanghai Stock Exchange's STAR Market, with shares trading at RMB 1,100 apiece and total market value reaching RMB 44 billion. The rally extended after the open, with gains briefly exceeding 550% as the stock hit an intraday high of RMB 1,300 per share.
New stock Pingzhun listed on the STAR Market of the Shanghai Stock Exchange, opening 488.61% higher at RMB 1,100 per share, with total market value reaching RMB 44 billion. After the listing, the share price continued to climb, with gains briefly expanding to more than 550% and reaching a high of RMB 1,300 per share.