Qingdao Port in A-share float

Hong Kong-listed firm's Shanghai IPO hits daily increase limit

Qingdao Port International Co Ltd launched its initial public offering on the main board of the Shanghai Stock Exchange on Monday, the first Hong Kong-listed company to make its debut in the A-share market this year.

With an offering price of 4.61 yuan (68 cents) per share, Qingdao Port opened at 5.53 yuan per share on its first trading day. The price hit the daily increase limit of 10 percent during the first few minutes of trading, to close at 6.64 yuan.