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Bank of Chengdu shares rise 44.1% in trading debut

Chinese lender Bank of Chengdu Co. Ltd.'s shares closed their first day of trading at 10.07 yuan on the Shanghai Stock Exchange, up 44.1% against the issue price of 6.99 yuan per share.

Bank of Chengdu raised 2.53 billion yuan via the IPO offering of 361,225,134 shares, or 10.0% of its enlarged share capital. Net proceeds from the IPO came to 2.44 billion yuan.

As of Jan. 31, US$1 was equivalent to 6.29 Chinese yuan.