First China IPOs in four months surge

China’s first companies to go public in four months jumped 44% on their first day of trading on Thursday, Bloomberg reported. Shandong Longda Meat Foodstuff (002726.SHE), Wuxi Xuelang Environmental Tech (300385.SHE) and Feitian Technologies (300386.SHE) surged by the maximum limit in Shenzhen within the first half hour of trading after their initial public offerings were each oversubscribed by at least 120 times. Han’s Laser Technology (002008), a supplier to Apple (AAPLE.NASDAQ), advanced 5.8%. The Shanghai Composite Index rose 0.7% to 2,038.68 at the close, while the ChiNext Index of small-company shares jumped 2%.