BRIEF: Zenergy included in program making its stock available to Mainland China investors

Lithium ion battery maker Jiangsu Zenergy Battery Technologies Group Co. Ltd. (3677.HK) said on Monday it was included in a program making its Hong Kong-listed stock available to Mainland Chinese traders in Shanghai and Shenzhen.

The company said trading of its shares through in the Shanghai Connect and Shenzhen Connect programs, which link those two cities’ stock markets with the Hong Kong Stock Exchange, commenced on Monday.

“The board believes that inclusion … will help accelerate the expansion of the shareholder base of the company and increase the trading liquidity of the company’s shares, and further enhance the company’s reputation in the capital market and the company’s brand awareness,” Zenergy said.

Zenergy’s stock rose 6.4% on Monday, its first day of inclusion in the program. But it gave back most of those gains on Tuesday, and was down 3.6% late in the afternoon at HK$10.83.

By Doug Young

To subscribe to Bamboo Works weekly free newsletter, click here