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First batch of 28 firms start trading on ChiNext

(Xinhua)
Updated: 2009-10-30 10:32

Twenty-eight small and medium-sized enterprises Friday started trading their shares at China's NASDAQ-style market, ChiNext, in Shenzhen, Guangdong province.

Representatives of the first batch of 28 selected firms for China's ChiNext pose for photos during the listing ceremony in Shenzhen, Oct 30, 2009. [Xinhua]

Huayi Brothers Media Corp, a movie producer, soared the most, up 122.74 percent from its IPO price, to open at 63.66 yuan per share.

Related readings:  Mutual funds make beeline to ChiNext  Start-ups get chance at new funding source  The new players  Woman, 66, may rake in millions from ChinaNetCenter listing  Milestones for the launch of China's GEB

Zhongyuan Huadian Co Ltd increased the least by 46.26 percent from its IPO price to open at 47 yuan per share.

ChiNext was expected to provide more fund-raising channels for small and medium-sized businesses of high technology and high growth.

The central bank and the whole financial system will consistently support ChiNext, said Zhou Xiaochuan, governor of the People's Bank of China, the central bank, at the trade opening ceremony.

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