In conjunction with the introduction, Yangzijiang Maritime successfully raised gross proceeds of approximately $5.2 million via a private placement of 8,638,000 shares at the placement price. SAC Capital and China International Capital Corporation (Singapore) are the joint placement agents for the private placement.
Yangzijiang Maritime, the spin-off listing of Yangzijiang Financial Holding, closed at 67 cents on its debut day of trading on Nov 18, 11.7% higher than its placement price of 60 cents per share.
Trading commenced at 9am on Nov 18 at 66 cents and reached an intraday high of 71 cents. By the end of the day, about 58 million shares were traded.
