The share prices on China’s stock markets seem to keep going up and up. Case in point: the IPO of Sichuan Expressway. The company saw its shares rise by more than 200% from its offer price on its first day of trading on the Shanghai Stock Exchange. Shares closed at RMB10.90 (US$1.60) from an initial offer price of RMB3.60 (US$0.53). Much better than analysts’ expectations of RMB4.50-5 (US$0.66-0.73). China Shipbuilding Industry Co (CSIC) is hoping the same holds true for its stock listing. The company has just received approval from the China Securities Regulatory Commission to list on the Shanghai Stock Exchange. CSIC plans to issue nearly 2 billion A-shares, or 30% of its expanded capital after the IPO. The firm is seeking around US$943 million to aid in its production of spare parts for ships, enhance its supplementary shipbuilding business and improve equipment supplies. China Development Bank has more than fund raising on its mind with its plan to issue at least US$146 million worth of bonds in Hong Kong. It will also be carrying out Beijing’s goal of supporting the development of Hong Kong’s bond market.
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