
Thirteenfold in Two Days: a State Machinery Maker Becomes China's Hottest Stock
Shengu Group, a state-owned maker of industrial compressors priced at 4.39 yuan a share for its Shanghai debut, closed its second trading day at 57.77 yuan — up more than 1,200 percent from the IPO price — as retail investors battled over a free float so small the frenzy earned the stock a punning nickname, 'Magic Drum'.












