Baotou Dongbao and Grandhope Biotech Soar after ChiNext IPOs

Two China biopharmas made their public company debuts on the ChiNext Exchange this week. Baotou Dongbao Bio-Tech raised 136.8 million RMB ($22 million) in its IPO, and Grandhope Biotech completed a 223.9 million RMB ($34.6 million) initial offering. Both companies did exceedingly well in their first day of trading: Baotou Dongbao almost tripled in value, closing at 26.90 yuan (up from 9) and Grandhope climbed 147% to 44.91 yuan (up from 18.2). More details.... Stock Symbols: (SHE: 300239) (SHE: 300238)