Qilian International Holding Group Limited, a Chinese stock, triggered a circuit breaker on its first day of trading, rising 76.2 per cent to $8.81 before the circuit breaker, with IPO priced at $5 a share.

Qilian International Holding Group Limited (QLI.US), a Chinese pharmaceutical and chemical products manufacturer, has announced that it will issue 5 million common shares at a price of US $5 per share, which is expected to be on Nasdaq on January 12, et, Zhitong Financial APP has learned.Start public trading. Without deducting underwriter discounts and related offering fees, the company is expected to raise a total of $25 million.

In addition, the company has authorized the underwriter to oversubscribe for 45 days, allowing him to subscribe for no more than 750000 common shares at the public offering price (less underwriting discount commission). In accordance with the usual closing conditions, the offering is expected to be delivered on January 14, 2021, EDT.

The funds raised in this issue will be used for fixed asset investment in oxytetracycline API production facilities, construction of organic fertilizer facilities, fixed asset investment in heparin sodium production equipment and marketing of Gandixin ®products.