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Article: Brisk Chinese Agricultural Shares
- Article from:
- Xinhua News Agency
- Article date:
- November 5, 1998
CopyrightCopyright 1998 Xinhua English Newswire. Provided by ProQuest LLC. (Hide copyright information)
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The current dull Chinese A share market was freshened Wednesday
when share price of a Beijing-based agriculture company bulled its
way up on the first day of trading on the Shenzhen Stock market.
Share prices were quoted at 5.9 yuan at issue but surged by 134
percent to close at 13.81 yuan on the first trading day, with nearly
60 percent of the shares changed hands.
The Shunxin Agriculture Co Ltd offered 56 million A shares to the
public in early September and raised four billion yuan (480 million
U.S. dollars).
Proceeds through the issue will be used to set up a seed research
center and expand existing operations including distilled spirits,
animal husbandry and grain-growing, according to ...