HyperStrong lists on Shanghai stock exchange, surges 230% on its first day

The Chinese battery energy storage system (BESS) integrator debuted on the stock exchange with a market capitalization of RMB 11.339 billion ($1.56 billion).

From ESS News

HyperStrong, one of the world’s leading BESS integrators, has completed an initial public offering (IPO) on the Shanghai Stock Exchange’s Science and Technology Innovation Board.

In its stock exchange debut on Monday, the company issued at RMB 19.38 per share ($2.7) and closed at RMB 63.80 ($8.8), representing an increase of 229.21% from the issue price. Its market capitalization reached RMB 11.339 billion ($1.56 billion) up from RMB 3.444 billion ($475 million).

To continue reading, please visit our ESS News website.