Zhejiang Daoming Optics and Chemical (RCode:002632:), a reflective product manufacturer, issued 26.67 million shares in the initial public offering (IPO). The IPO issue price is set at 23 yuan per share, with a P/E ratio of 67.65 times earnings. The company plans to raise 450 million yuan from the IPO, which will be used in construction of a reflecting material production line.

Shares of Zhejiang Daoming Optics and Chemical (RCode:002632:) jumped 25.39 percent to trade at 28.84 yuan at 13:46.

Shenke Slide Bearing Corporation (RCode:002633:), a bearing producer, issued 25 million shares in its IPO. The issue price was set at 14 yuan per share, yielding a P/E ratio of 41.24. The offering will fund the construction of two production lines and an R&D center.

Shares of Shenke Slide Bearing Corporation increased 28.36 percent to trade at 17.97 yuan at 13:46.

Source:CapitalVue