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Walvax Biotech Soars after ChiNext IPO

publication date: Nov 12, 2010
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Yunnan Walvax Biotechnology completed its IPO on the Shenzhen ChiNext Exchange, pricing 25 million shares at 95 RMB each ($14.32). The offering raised 2.375 billion RMB ($358 million). In open market trading, investors pushed the shares substantially higher. Walvax opened at 150 RMB and closed at 136.35, a gain of 44% for those who participated in the offering. The rise gives Walvax a market capitalization of 13.6 billion RMB ($2 billion). More details....

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