The Chinese artificial intelligence chip company Enflame made its stock market debut with an impressive 179% surge in its shares. The securities ended the session trading at 397 yuan, equivalent to about 50.97 euros.
The initial unit price for the sale of securities was set by the company itself at 142.18 yuan, approximately 18.25 euros. Just over 43 million shares were offered for sale during this operation.
The operation allowed Enflame to raise about 6,120 million yuan, which corresponds to approximately 786 million euros. The amount raises questions about the company's real capital needs, since the subscription was about 21 times oversubscribed.
