Guangfa Securities Co Ltd (GF Securities), a large stock brokerage firm headquartered in south China's Guangdong province, achieved back-door listing in Shenzhen Stock Exchange on Friday.
GF Securities announced via its website that the listing was realized by taking over Yan Bian Road Construction Co Ltd.
Shares of GF Securities, which are free from daily pricing limits on Friday, opened at 54 yuan ($7.92) per share, soaring 412 percent than the previous close.
Current market value of GF Securities reaches 130.2 billion yuan.
