HONG KONG, Feb 27, 2019 - (ACN Newswire) - Narnia (Hong Kong) Group Company Limited ("Narnia" or the "Company", together with its subsidiaries, the "Group", stock code: 8607) commenced trading of its shares on GEM of The Stock Exchange of Hong Kong Limited on 26 February 2019.
Shares of the Company were actively traded and opened at HK$0.48, up 20% against its issue price of HK$0.40. It surged to the day's high at HK$0.52 before closing at HK$0.44, up 10% over its issue price on its first trading day. Total transaction volume was approximately 87.7 million shares, with an aggregate turnover of HK$41.5 million.
Commenting on the positive reception from market in its trading debut, Mr. Dai Shunhua, Chairman of the Board, Executive Director and Chief Executive Officer of Narnia, said, "The successful listing on The Stock Exchange of Hong Kong Limited marks a significant milestone of the Company's business development. I would like to express our deepest gratitude to our investors for their recognition and support. The cheering stock performance is the best demonstration of the Company's capabilities and investors' confidence. The successful listing will foster a sustainable growth of Narnia and boost its market position in China's textile industry. Looking ahead, we will expand our production capacity, upgrade our machinery and equipment, continue our research and development, and enhance our environmental protection and quality control systems, with a view to further developing the Group's business and maximising shareholder returns."
Cinda International Capital Limited is the Sole Sponsor and the Sole Global Coordinator; Cinda International Capital Limited and ChaoShang Securities Limited are the Joint Bookrunners and the Joint Lead Managers.