HK-listed IRICO hits 5-month high on $309 mln Shenzhen listing plan

IRICO New Energy

09/08/2021 04:46

** Shares of luminous materials producer IRICO Group New
Energy Co Ltd  0438.HK  rise 10.8% to HK$37, the highest since
March 4
    ** Stock on track for its best day since July 30
    ** The Shaanxi-based company intends to apply for an initial
public offering of A Shares and listing on the ChiNext of the
Shenzhen stock exchange  urn:newsml:reuters.com:*:nFWN2PD140
    ** Says it plans to issue up to 58.78 mln A shares, raising
2 bln yuan ($308.9 mln) to fund the development of ultra-thin
and high-transmissivity photovoltaic glass project 
    ** The Hong Kong Hang Seng Composite index tracking energy
stocks  .HSCIE  gains 0.1%, and the Hang Seng Composite index
 .HSCI  rises 1.03%
    ** The Hang Seng China Enterprises index  .HSCE  and the
benchmark index  .HSI  both climb 1%
    ** Stock had surged 51.8% this year, as of last close
     


($1 = 6.4753 Chinese yuan renminbi)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))