Investors flock to buy Guilin Sanjin shares

Guilin Sanjin Pharmaceutical, the first company to raise money from the stock market through an initial public offering after the nine-month ban on IPOs was lifted, is set to reap the benefit of the pent-up speculative fervor of investors.

According to reports, the drugmaker's IPO was oversubscribed a whopping 584 times in online subscription from individual investors and 165 times in off-line bidding by institutional investors.

So far, the 46 million new shares have been allotted to subscribers at 19.8 yuan per share. The ratio of allocation to subscription was 0.17 percent.