Maider Medical Industry Equipment Co Ltd makes initial public offerings on the Shanghai Stock Exchange's sci-tech innovation board, commonly known as the STAR market, on Dec 3. [Photo/taizhou.com.cn]

Maider Medical Industry Equipment Co Ltd made initial public offerings on the Shanghai Stock Exchange's sci-tech innovation board, commonly known as the STAR market, on Dec 3.

The company issued 20.9 million shares at a price of 24.79 yuan ($3.7 yuan) per share. The stock closed at 31.03 yuan, up 25.17 percent from its offering price.

Maider is the first Taizhou company to go public on the STAR market.

The STAR market, inaugurated in June and designed for companies in the high-tech and strategic emerging sectors, has eased listing criteria but adopted higher requirements for information disclosure.

Founded in 2003, Maider specializes in the design, R&D, manufacturing and sales of intelligent medical products. It is the only domestic enterprise capable of manufacturing complete sets of blood purification automation equipment.

The company, which has 150 invention patents and 11 software copyrights, was listed among the first batch of "Little Giants" by the Ministry of Industry and Information technology this year.

"Little Giants" refer to industry leaders recognized by the MIIT with excellent innovation capabilities, large market shares, core technologies, and high product quality and profitability.

To date, there are 54 listed companies in Taizhou, among which 51 are A-share listed companies, ranking fourth among prefecture-level cities in China.

Among the 51 A-share listed companies, manufacturing enterprises account for 94 percent, covering such sectors as automobile and parts, medicine, sewing equipment, pumps and motors.