SHANGHAI Oct 9 China Molybdenum Co Ltd
nearly tripled from its initial public offering
price on the Shanghai Stock Exchange on Tuesday, marking a
strong debut after it raised much less-than-expected in proceeds
due to weak market conditions.
China Molybdenum, a major Chinese producer of tungsten and
molybdenum also listed in Hong Kong, opened at 8.70
yuan compared with its IPO price of 3.00 yuan.
The company raised only 600 million yuan ($95 million)
through its share offering in Shanghai, reflecting slack demand
for resource-related firms amid a slowing economy.
(Reporting by Lu Jianxin and Kazunori Takada; Editing by