Shenzhen Hepalink Rises 27% in First Trading Session

Shenzhen Hepalink gained as much as 27% from its IPO price in its first trading session, hitting a high of 188 RMB ($27.65). The IPO was priced at 148 RMB ($21.76), which was already a pricey 72 times its 2009 earnings. Hepalink is the world’s leading producer of the blood thinner Heparin. Li Li and Li Tan, the founders of Hepalink, own 72% of the company, a stake that is now worth $7.6 billion. More details...