First batch of IPOs under new China listings rules surge on debut
Shares in 10 Chinese companies soared almost 100 per cent on average on Monday, as the first batch of initial public offerings under a new streamlined listings regime debuted in Shanghai and Shenzhen.
The top gainers among the new launches included Shenzhen CECport Technologies, an electronics distributor, whose shares ended trading up more than 220 per cent, and Shaanxi Energy Investment, a state-owned electricity group that raised Rmb7.2bn ($1.1bn) from its IPO and whose stock rose about 48 per cent. The average gain across the 10 new listings was more than 96 per cent.
涨幅最大的新股包括电子元件分销商深圳中电港技术有限公司(Shenzhen CECport Technologies)，其股价收盘上涨逾220%，以及国有电力集团陕西能源投资股份有限公司(Shaanxi Energy Investment)，该公司此次IPO筹资72亿元人民币（合11亿美元），上市首日股价上涨约48%。10家新上市公司的股票上市首日平均涨幅超过96%。
But financial experts said the massive price gains recorded by the new listings pointed to the need for more comprehensive reforms to China’s equity fundraising rules.