Jiangsu Wutong Communications (300292), a maker of wireless communication systems and radio frequency signaling systems, debuted on the ChiNext board today, reports Shenzhen Economic Daily.

The company issued 66.70 million shares at 12 yuan per share, with a corresponding price earnings ratio of 23.67 times earnings.

Wang Tianyi, an analyst at Oriental Securities, said a rational price range is 10.1-13.4 yuan per share.