Lionax becomes first Chinese firm to IPO in Paris
PARIS, Aug 23 (Reuters) - Chinese automotive technology products group Lionax (MLION.PA: Quote, Profile, Research) made its stock market debut on Thursday in the first ever case of a Chinese company listing its shares in Paris.
Lionax shares were indicated higher at 2.4 euros in early morning trade, giving the company a stock market capitalisation of around 24 million euros ($32.5 million). The company's flotation price was set at 2.00 euros.
The Paris market is run by Euronext. Euronext is now part of the enlarged NYSE Euronext (NYX.N: Quote, Profile, Research) company, which is the world's largest bourse by trading volumes and also includes the New York Stock Exchange.
Authorities in New York have expressed concern in recent months over the fact that many companies from Russia, Asia and the Middle East have chosen to list shares in London rather than New York.
For Lionax website, see:
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