Beijing Lanxum Technology shares up 56.11% after stock debut on ChiNext

Oct. 30, 2009 (China Knowledge) - Beijing Lanxum Technology Co Ltd<300010>, a Chinese provider of office information system solutions and services, debuted on the ChiNext Board on the Shenzhen Stock Exchange today, becoming one of the first companies to trade on the Nasdaq-style board.

Shares of the company opened at RMB 28.1, a price 56.11% higher than the IPO price. The Shenzhen Component Index opened 1.92% or 233.94 points higher at 12,427.10 points.

The company floated 26.5 million shares, equivalent to 25.20% of its enlarged share capital, at RMB 18 apiece via the initial public offering. Sealand Securities Co was the sponsor for the IPO.

Beijing Lanxum Technology Co Ltd, set up in January 1999 and headquartered in Beijing, is mainly engaged in providing office information system solutions and services, including outsourcing services relating to document management. Lanxum Technology, with a registered capital of RMB 78.65 million, has teams in more than ten Chinese cities, including Shanghai, Chengdu and Shenyang.

In the first three quarters of this year, the company realized RMB 28.51 million in net profit and RMB 220.04 million in operating income.