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China’s Zhejiang Shibao jumps over six times on debut

 

Shares of Chinese auto parts maker Zhejiang Shibao Co Ltd jumped by more six times on its Shenzhen debut on Friday, after the stocks regulator had forced it to drastically scale back its fundraising plan to 38.7 million yuan (US$ 6.2 million). Trading of Shibao shares was temporarily halted five minutes into the session after triggering a turnover circuit breaker, and was due to resume trading at 0231 GMT.


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