Yibin Wuliangye

Distiller Yibin Wuliangye - the mainland's most popular initial public offering - made a splash on its Shenzhen debut yesterday, closing up 262 per cent to 53.57 yuan (about HK$49.87) from an issue price of 14.77 yuan.

The stock opened at 29.77 yuan, hit an intra-day high of 57 yuan and saw 34.16 million shares traded yesterday.

The issue - for 72 million A shares in the company - was oversubscribed 146 times, tying up 155 billion yuan in a public sale last month.

The company makes and sells wine under the Wuliangye brand.

It made 341.2 million yuan in net profit last year on a turnover of 2.2 billion yuan.