HONG KONG -- Investors rallied around Eastern Air Logistics on Wednesday, sending shares of the corporate sibling of China Eastern Airlines climbing by the maximum 44% allowed on their first day of trading on the Shanghai Stock Exchange.
The impressive debut, coming on the heels of JD Logistics' $3.16 billion initial public offering in Hong Kong two weeks ago, is a positive sign for Chinese freight companies in need of fresh capital to cope with soaring package volumes and a vicious price war.
%2520%E3%81%AE%E3%82%B3%E3%83%92%E3%82%9A%E3%83%BC.jpg?width=178&fit=cover&gravity=faces&dpr=2&quality=medium&source=nar-cms&format=auto&height=100)
.JPG?width=178&fit=cover&gravity=faces&dpr=2&quality=medium&source=nar-cms&format=auto&height=100)
