Shanghai Model Organisms Center debuts in SSE STAR market, fell 18%

December 28, 2021 (China Knowledge) – The Shanghai Model Organisms Center (688265) opened at RMB 75.19 on its first day of listing on the Shanghai Stock Exchange STAR market, down 11% from at its IPO price of 84.62 RMB.

The stock price ended the day at 69.37 RMB, down 18% from its issue price. Its intraday highs and lows were 82 RMB and 69.01 RMB respectively. In total, 9.6 million shares changed hands with a turnover of 700.4 million RMB and ended the day with a total market capitalization of 5.4 billion RMB.

Shanghai Model Organisms Center Inc is a China-based company primarily engaged in genetically modified animal models and related technical services. The Company’s activities include genetically modified animal models, model breeding, feed services, efficacy evaluation and phenotypic analysis, other model biotechnology services, procurement and sale of models and other activities. The products of genetically modified animal models are divided into custom models and standardized models, mainly comprising genetically modified mouse models, genetically modified rat models, genetically modified nematode models and genetically modified zebrafish models. Model breeding activity refers to the use of genetically modified animal models developed and produced by the Issuer or existing genetically modified animal models provided by Customers through natural reproduction or assisted reproduction.

The Shanghai Center for Model Organisms said in its prospectus that funds raised during the IPO would be used to build a repository of models of genetic modification, to research a mouse model of humanized antibodies and to supplement its working capital.

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