Stocks News
- Shanghai bourse widens IPO pricing band
Date: 26-Apr-2007 Sources: (Shenzhen Daily)
THE Shanghai Stock Exchange said it is widening the band for the pricing of newly listed shares during the pre-opening session on the first day of trading, a move which could allow investors to increase their initial gains from initial public offering (IPO) listings.
In a statement on the exchange Web site posted late Tuesday, the bourse said the upper band would be nine times the IPO price and the lower band would be 50 percent of the IPO price. Previously the band was two times the IPO price on the upside and 50 percent of the IPO price on the downside. The notice didn't say when the change takes effect.
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