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China's Graphite IPO surged more than 260 percent on its first day, becoming Hegang's first listed private company.

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China Graphite (02237.HK) was officially listed on the main board of the Hong Kong Stock Exchange on July 18, with the sole sponsor of Ligao Corporate Finance Co., Ltd.

China Graphite is offering 0.4 billion shares in this global offering, including 0.12 billion Hong Kong Offer Shares, 0.28 billion International Offer Shares and a 15% Over-allotment Option. The final offering price is HK $0.325 per Offer Share. The Hong Kong Offer Shares were subscribed for approximately 26.51 times. The International Offer Shares were subscribed approximately 1.06 times (prior to the exercise of any Over-allotment Option).