August 12 -- Zhuzhou Kibing Group (RCode:601636:), a glass producer, debuted on the SSE board today, reports the National Business Daily, citing a company filing. Kibing Group issued 168 million shares in its initial public offering (IPO) at nine yuan per share. The issue price represents a price to earnings (P/E) ratio of 18.75.

Funds raised will be invested in technology improvements for its LOW-E coating glass production line and will also fund the construction of a production line for photovoltaic chips.

Kibing Group now owns a sand mine in Fujian province, with a glass sand reserve volume of 28.14 million tons. Its mining right extends 30 years.

According to the company’s plan, it will add eight production lines for high-end glass and a 500,000-ton capacity quartz sand production line.

Shares of Zhuzhou Kibing Group (601636) rose 60.67 percent to trade at 14.46 yuan at 11:22 today.