Dairy firm's debut revives IPO frenzy

PUBLISHED : Friday, 11 June, 2004, 12:00am
UPDATED : Friday, 11 June, 2004, 12:00am

China Mengniu Dairy's 24.2 per cent first-day rally has revived memories of the IPO frenzy of six months ago and is a strong sign confidence is returning to the local market, analysts say.

The share price for the Inner Mongolian milk producer climbed as high as $4.975, before settling at $4.875 - 95 cents above its pre-listing offer of $3.925. Mengniu's performance is an indication of the demand for Chinese consumer product companies.

Full report - B1