Sanjin's listing may create 8 billionaires
The issue price of Guilin Sanjin, the first IPO after resumption, was set at RMB19.8 per share yesterday. Some institutions thought that this price was too high and would not be conducive to cultivating investors' enthusiasm. Yesterday, Shenzhen Stock Exchange announced that Guilin Sanjin's issue price was RMB19.8. Based on diluted earnings per share of RMB0.6 in 2008, the P/E ratio was 33 times. Some institutional investors thought that this price was a little high. However, some securities personnel said that this company was the first IPO after resumption, and it was not strange that the subscription price was higher than the reasonable price due to strong market stimulation.