Xu Lei, president of Yunnan Water Investment Co, beats the gong at the HKEx in Hong Kong on May 27. [Photo provided to chinadaily.com.cn]

The initial stock exchange transactions of the Yunnan Water Investment Co based in the Kunming Hi-Tech Zone, which was listed in the Stock Exchange of Hong Kong (HKEx) on May 27, has already exceeded 1.5 billion HKD ($190 million).

The share price of Yunnan Water Investment Co (stock code: 06839) soared 25 percent, from 5.80 HKD to 7.25 HKD at the close of the stock exchange on its first day of trading, showing that global investors are confident about the company’s development prospects.

Xu Lei, president of the company, said after the initial public offerings that the Yunnan Water Investment Co has stepped on a new business level and expects another period of high-speed growth. “We will spare no efforts to grow, in order to give our shareholders the greatest possible returns,” he said.

The raised capital will be used to expand the company’s urban water industry around China, Xu announced.

The Yunnan Water Investment Co is one of the leading companies in Yunnan province focusing on urban sewage treatment and water supply services, whose business covers technology R&D, equipment production and marketing.

Statistics from Ernst & Young show that the Yunnan Water Investment Co has taken up the largest share of the sewage treatment market in Yunnan province in 2013 with a markets share reaching 26.2 percent.

While consolidating the leading position in Yunnan province, the company has also extended their business in the northwestern and eastern parts of China as well as in Southeast Asia. It has already a branch in Hong Kong as a strategic platform for its future overseas development.

Heads of Yunnan Water Investment Co at the HKEx in Hong Kong on May 27. [Photo provided to chinadaily.com.cn]

Edited by Mevlut Katik