Shenzhen listing by renewables operator offers confidence boost
China Resources' group companies at a supply chain exhibition in Beijing on June 22. (Photo by Wataru Suzuki)
(Reuters) -- China Resources New Energy shares nearly tripled in the company's Shenzhen trading debut on Thursday, after the wind and solar power firm raised 24.5 billion yuan ($3.61 billion) in Asia's biggest initial public offering so far this year.
The stock opened at 21.60 yuan versus an IPO price of 10.11 yuan then surged as much as 198%, triggering a brief trading suspension.
The stock was up 144% to 24.7 as of 0304 GMT, with the value of shares traded reaching 12.2 billion yuan.
