(Yicai Global) June 8 -- Shares in Sinomach Heavy Equipment Group, which privatized in 2015 to avoid a forced delisting from China’s mainland markets, have surged today as it went public again on the Shanghai bourse, prompting a temporary pause in trading.

Its stock [SHA:601399] was up almost 135 percent at CNY7.80 (USD1.10) when it had to suspend trading for 10 minutes from 9.34 a.m. The share price then peaked at CNY9.59 but had slid to CNY7.34, a 121 percent rise, as of 11.23 a.m.

The firm went public as ST Sinomach in 2010 but failed to make a profit through 2014. It went private in May 2015 to avoid a forced delisting, becoming the first company to opt to delist after a reform to the process in 2014.

China’s mainland stock markets typically have a 10 percent up and down limit on share trading, but on the first day of re-listing, there is no limit. If the intraday price rises 30 percent or falls 60 percent from the opening price, trading is suspended for 10 minutes.

Editor: James Boynton