Jun 09, 2022 (China Knowledge) - Nanjing Toua Hardware&Tools (301125) opened at RMB 38.78 on its first day trading on the Shenzhen ChiNext Market, an increase of 72% from its IPO price of RMB 22.49.

The shares price ended the day at RMB 36.31, soaring 61% from its issue price. Its intraday high and low were RMB 40.77 and RMB 35.5, respectively. A total of 11.4 mln shares changed hands with a turnover of RMB 431.5 mln, and ending the day with a total market capitalization of RMB 2.6 bln.

Nanjing Toua Hardware & Tools Co.,Ltd. produces and sells hand tools. The Company manufactures and sells gas nail gun, steel nail gun, insulation nail gun, and other products. Nanjing Toua Hardware & Tools also produces and sells construction hardware products.

Nanjing Toua Hardware&Tools reported in its prospectus that the funds raised from the IPO will be used to fund its pneumatic tools factory construction, build a high quality hardware, pneumatic tools and accessories manufacturing base, and to build a R&D center.

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