Zhejiang Huilong New Materials Co Ltd makes its initial public offering on the Shenzhen Stock Exchange on Sept 9. [Photo/WeChat account: huzhoufabu]

Zhejiang Huilong New Materials Co Ltd made its initial public offering on the Shenzhen Stock Exchange on Sept 9.

It was the second company from Huzhou to be listed this week and the forth listed enterprise from the city this year, bringing the total number of listed companies in the city to 43.

Established in Huzhou's Deqing county in June 2004, Zhejiang Huilong New Materials Co Ltd is a leading dope dyed polyester yarn manufacturer in China, with its sales ranking among the top three companies in the domestic niche market.

The company's shares jumped 233.75 percent above its issue price of 8.03 yuan ($1.23) per share. It raised more than 219 million yuan by selling 27.3 million new shares to investors.

The raised money will be used by the company to expand its business scale and supplement its working capital.

On Sept 7, Sicher Elevator Co Ltd from Huzhou made its debut on the Shenzhen Stock Exchange, becoming the first elevator manufacturer from East China's Zhejiang province to debut on the bourse's ChiNext board.

The company raised 262 million yuan ($40.3 million) by issuing 66.69 million shares at a price of 15.50 yuan per share. The share price surged 294.4 percent on the first trading day.