Beijing Dinghan Technology shares up 86.51% in ChiNext debut

Oct. 30, 2009 (China Knowledge) - Beijing Dinghan Technology Co Ltd<300011>, a provider of power supply systems, debuted on the ChiNext Board on the Shenzhen Stock Exchange today, and its shares rose 86.51% above the IPO price on its first day of trading.

Shares of the company started trading at RMB 66.7, a price 80.27% higher than the IPO price. They surged 152.7% after the opening and climbed to RMB 93.5 in the morning session. After hitting an intraday high of RMB 96, the shares closed at RMB 69.01, with 9.33 million shares having changed hands.

The firm raised RMB 481 million from the IPO by issuing shares. Industrial Securities Co Ltd is the underwriter of the offering.

Beijing Dinghan was founded in June 2002 and is engaged in the development, manufacturing, sales, installation and maintenance of power supply systems. The high-tech company's major products include intelligent power supply systems for railway signals, metro platform screen doors and railway telecom systems. The Zhongguancun-based company has a production base covering an area of 5,000 square meters. It has two research and development centers each in Beijing and Shenzhen.