in Yihai Kerry Arawana Holdings , the agri-food giant's 89.99 per cent-owned subsidiary which joined the tech-heavy ChiNext board of the Shenzhen Stock Exchange.
YKA shares made a gleaming debut at 9.30am at 48.96 yuan, almost double its initial public offering issue price of 25.7 yuan. But they then lost some steam, falling to 42.93 yuan by the 11.30am trading break. That's still 67 per cent higher than the IPO price, but down 12.3 per cent from the opening price.
Over on the Singapore Exchange , at around 11am, the bourse operator flagged the"unusual price movements" in Wilmar's stock. The company responded an hour later that the increased trading volume in its shares"may be attributable" to YKA's commencement of trading. YKA is a wholesaler and distributor of food products such as small package edible oil, rice and flour. Its namesake cooking oil with a Golden Dragon Fish logoIts long-awaited listing had raised about 13.93 billion yuan after the close of applications last month, making it the largest IPO in Shenzhen, according to Bloomberg. The proceeds will be
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