Southern Publishing surges in trading debut
By Li Wenfang And Zheng Caixiong In Guang Zhou And Shi Jing In Shanghai | China Daily | Updated: 2016-02-16 08:45
Shares in Southern Publishing and Media Co Ltd rose by the 10 percent daily ceiling on their first day of trading on the Shanghai Stock Exchange on Monday, demonstrating strong prospect for the mainland's culture and media industry.
The stock opened at 7.36 yuan($1.12) and quickly rose to its ceiling of 8.83 yuan as markets reopened after the Lunar New Year.
Wang Guike, chairman of the Guangzhou-based company, said he was confident of growing profits in coming years.
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