China’s STAR Market Embraces Unprofitable Tech With $14.6 Billion ESWIN Debut
Shares of wafer producer Xi’an ESWIN Material Technology Co. Ltd. surged as much as 361% in their trading debut Tuesday, before closing up 198.7%, marking a blockbuster entry for the first unprofitable company to list on Shanghai’s STAR Market under newly implemented reforms. ESWIN ended the day at 25.75 yuan per share, giving it a…