Guotai Junan’s 44% Surge in Trading Debut Prompts Brief Halt
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Guotai Junan Securities Co., China’s largest brokerage by revenue, surged 44 percent on its first day of trading in Shanghai after it completed the nation’s biggest domestic initial share sale since 2010.
The stock climbed by the exchange’s daily limit to 28.38 yuan as of 11:49 a.m. local time. The surge triggered a 30-minute suspension at the start of Friday’s trading. The Shanghai-based firm raised 30 billion yuan ($4.8 billion) after selling shares at 19.71 yuan apiece.