BAOGAI Makes Market Debut, Shares Surge 4.5% in Early Trading

Deep News09:43

Shares of BAOGAI (08090) commenced trading today. The company's listing announcement confirmed an issue price of HK$6.22 per share, with a total of 14.47 million shares offered. Each board lot consists of 500 shares, and the net proceeds from the offering are approximately HK$84.3 million. At the time of writing, the stock is up 4.50%, trading at HK$6.50 with a turnover of HK$12.88 million.

According to its prospectus, BAOGAI was founded in 2009 and has established itself as a specialized manufacturer in China's composite material trench cover industry. The company primarily produces composite trench cover products designed to meet engineering and infrastructure requirements. Data from Frost & Sullivan indicates that by 2025, the company ranked first in China's cable trench cover and composite cable trench cover market by share, and third in the broader trench cover industry by market share.

BAOGAI manufactures and supplies a comprehensive range of high-performance composite trench cover products, which mainly include cable trench covers, drainage trench covers, and manhole covers. Its composite trench cover products are customizable, with specifications and configurations available upon request. The composite materials used by the company are primarily resin-based composites embedded with glass fiber reinforcements. Its product portfolio accommodates non-standard sizes, special functions, and brand logos to meet clients' bespoke requirements. The company also installs services on all its products, utilizing Internet of Things technology to actively advance the intelligent upgrade of smart manhole cover management systems.

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