Sichuan Expressway, the first company to have an initial public offering on the Shanghai Stock Exchange since September 2008, saw it’s A-shares increase by more than 200% from its initial share price in its debut yesterday, the South China Morning Post reported. The sizable jumps in share price caused regulators to stop trading of the toll-road operator’s shares twice. Shares of Sichuan Expressway opened at RMB7.60 (US$1.11) yesterday, up 111.1% from the offer price of RMB3.60 (US$0.53). The stock closed at RMB10.90 (US$1.60), up 202.78% from the offer price. Analysts had expected Sichuan Expressway to trade at RMB4.50-5 (US$0.66-0.73) when the shares were listed. Sichuan Expressway floated 500 million A-shares, or 16.35% of its enlarged capital.
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