United Imaging shares shoot 75% higher in Shanghai debut
SHANGHAI :United Imaging Healthcare Co's shares surged as much as 75 per cent in their Shanghai debut on Monday after the Chinese firm's $1.6 billion initial public offering (IPO), the biggest on China's tech-focused STAR Market so far this year.
The jump came after strong demand during the share sale, the third-largest listing in China this year, as investors pinpointed the diagnostic imaging device manufacturer as a safe haven amid gloomy prospects for growth in the country, analysts said.
Shares in the company, the biggest domestic player in its field, ended the session 65 per cent higher at 181.2 yuan.
Yang Hongxun, analyst at investment consultancy Shandong Shenguang, said the surge was fuelled by both the company's fundamentals and ample market liquidity - big offerings have flour...