Bode Energy Equipment shares up 66.12% after stock debut on ChiNext

Published: 29 Oct 2009 20:24:50 PST

More From ChinaKnowledge.com

Oct. 30, 2009 (China Knowledge) - Bode Energy Equipment Co Ltd<300023> 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 32.56, a price 66.12% higher than the IPO price. The Shenzhen Component Index opened 1.92% or 233.94 points higher at 12,427.10 points.

The firm issued 15 million shares at the price of RMB 19.6 per share earlier. Western Securities Co Ltd was the underwriter of the offering.

The company, located in Xi'an High-Tech Industries Development Zone, specializes in research, design, manufacture and control system integration of the industrial automation products in petroleum, metallurgy and special equipment fields. Its products are sold both in China and foreign countries like the U.S., Russia, Egypt, Lybia and Indonesia.