On March 21, China Agri-Industries Holdings Limited (The Company, 0606 HK) made its debut on Hong Kong Stock Exchange.
The first day saw a trading of 588,400,000 shares worth of HK$3,334,000,000. It closed at HK$5.33, up 48.66% from its initial public offering price of HK$3.72.
The new stake sold during the IPO amounted to 860,911,545 shares, 24.67% of the Company’s extended total shares, given that green shoe policy won’t be applied. The IPO raised around HK$2.6 billion.
Frank Ning, Chairman of COFCO, was satisfied with the first-day performance.
