Asian Bamboo AG, a leading producer of bamboo trees and organic bamboo shoots in China, launched its debut on the Frankfurt Stock Exchange on Friday.
Asian Bamboo shares jumped to as high as 18.8 euros from its initial public offering price of 17 euros before dropping to 16.25 euros at 0954 GMT in their first day of trading in Frankfurt.
The company has sold 5.6 million shares in its 15-time oversubscribed initial public offering, which raised about 75 million euros.
It is the second Chinese firm listed on the Frankfurt Stock Exchange's Prime Standard segment designed for companies that wish to target international investors. These companies are required to meet higher international transparency criteria.
In early July, waste incinerator maker Zhong De Waste Technology AG became the first Chinese company launching IPO on the Prime Standard in Frankfurt. In March, Chinese wood-working machinery maker Gongyou Machines privately placed about 1.6 million shares on the junior Open Market segment in Frankfurt.
Source: Xinhua
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