Mainland Chinese investors are jumping at the chance to buy shares in newly-listed companies, confirming huge demand for initial public offerings in a market otherwise devoid of enthusiasm.
Lianming Machinery, a Pudong-based supplier of industrial products, listed on Monday in the Shanghai market's first IPO in four months. Shares immediately surged 44 per cent to the upper limit before being suspended.
Three companies that listed on the Shenzhen exchange last Thursday - Feitian Technologies, Shandong Longda Meat Foodstuffs and Wuxi Xuelang Environmental - all rose 44 per cent on their debut, then hit the 10 per cent limit on both Friday and Monday.
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