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Erzhong ends under IPO

China National Erzhong Group, a Sichuan-based heavy industry equipment maker, became the second new Chinese share after China XD Electric to end below its initial public offerings price on its debut day in three years due to the high IPO price, analysts s

China National Erzhong Group, a Sichuan-based heavy industry equipment maker, became the second new Chinese share after China XD Electric to end below its initial public offerings price on its debut day in three years due to the high IPO price, analysts said.

Erzhong issued 240 million yuan-dominated A shares Tuesday with an opening price of 8.5 yuan ($1.25), but ended at 8.12 yuan ($1.19), down 4.12 percent.

Global Times – Agencies

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