May 11 -- Shandong Rike Chemical (300214), Suzhou Electrical Apparatus Science Academy (300215) and Hunan Qianshan Pharmaceutical Machinery (300216.) debuted on the Chinext Board today, reports hexun.com, citing a company filing.

Rike Chemical, a producer of PVC processing aid and PVC impact modifiers, issued 28 million shares at 22 yuan per share in its initial public offering (IPO). The issue price represents a price to earning ratio (P/E ratio) of 37.29. Its shares fell five percent to trade at 20.9 yuan at close today.

Suzhou Electrical Apparatus Science Academy, which provides technical detection services for power equipment, floated 9.2 million shares at 76 yuan per share in its IPO for a P/E ratio of 56.43. Its shares rose 6.58 percent to trade at 81 yuan at close today.

Qianshan Pharmaceutical Machinery, maker of medical product manufacturing equipment, issued 13.6 million shares at 29.3 yuan per share in its IPO. The issue price represents a P/E ratio of 45.78. Its shares gained 15.36 percent to trade at 33.8 yuan at close today.

Source:CapitalVue