Bafang Raises 168 Million Euro in IPO

SUZHOU, China – Yesterday, Bafang Electric (Suzhou) Co., Ltd. debuted on the main board at Shanghai Stock Exchange (SSE). 30 million Bafang (BFGF) shares (stock code: 603489) were issued on the capital market, accounting for 25 percent of the total share capital after release. The opening price was 43.44 yuan (5.62 euro) and on its first day, Bafang’s share price went up 43.99 percent to hit 62.55 yuan (8.09 euro).