China Tobacco's Stock Quadruples in Value Post-IPO After 52% Surge Today
Liao Shumin
DATE:  Jul 02 2019
/ SOURCE:  yicai

(Yicai Global) July 2 -- China Tobacco International, the listed arm of the country's state-owned tobacco monopoly, skyrocketed more than 52 percent today to notch up a four-fold gain since going public almost three weeks ago.

The Beijing-based company's shares [HKG:6055] ended today at HKD19.88 (USD2.89) each compared with their initial public offering price of HKD4.90.

China Tobacco International, which imports tobacco leaves and exports products to Southeast Asia, Hong Kong, Macao and Taiwan, raised HKD734.9 million (USD93.4 million) in its June 12 IPO in Hong Kong.

Editor: Emmi Laine

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Keywords:   China Tobacco International Inc.