CHINA: Winery shareprice gains on first day
Loulan Holdings, the Chinese winemaker, saw its share price open at HK$0.52 in their market debut today. The price compares to an initial public offering price of HK$0.50 each. The company will earn HK$38.5m (US$4.9m) from the float, which it will use for acquisitions of distributors and more wineries and open sales offices, marketing, equipment installation, and general working capital.
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