China's fiber laser maker Precilasers, which was crowned the highest offer price of the A-share market this year, surged over 500 percent on its Shanghai debut on Tuesday, delivering a record-high paper gain of 482,560 yuan (HK$561,377.38) per winning allocation of 500 shares.
Its shares once skyrocketed 596 percent before closing 516 percent higher at 1,152 yuan, compared with its offer price of 186.88 yuan.
Precilasers offers 10 million shares in the initial public offering, with a fundraising amount of 1.72 billion yuan. Its winning allotment rate was around 0.02 percent.
Founded in 2017, the Shanghai-based company focuses on research, development, and production of high-end fiber lasers, with products used in the most cutting-edge quantum science research, including quantum precision measurement, quantum computers, lidar, laser sensing, and high-end application fields such as semiconductor detection and processing.
