金钼股份(Jinduicheng Molybdenum)在昨日交易中，成为上海证交所今年以来在首日上市中表现最佳的股票，这给投资者提供了一些好消息。过去6个月，中国股市市值已蒸发近一半。

Jinduicheng Molybdenum yesterday achieved the best stock market debut¹ for a Chinese company in Shanghai this year, providing some good news for investors² in a market which has almost halved³ in value in the last six months.

金钼股份是全球最大的钼业公司之一，钼是一种用于提高钢铁硬度的金属。该股昨日收于22.55元人民币，较16.57元人民币的发行价格上涨36.1%。金钼股份的首次公开发行(IPO)筹资89.1亿元人民币（合12.7亿美元），是今年以来上海市场的第三起IPO。

Shares in Jinduicheng, one of the world’s biggest producers of a metal used to toughen steel, closed 36.1 per cent higher than their offer price of Rmb16.57 at Rmb22.55. The IPO, which was only the third in Shanghai in 2008, raised Rmb8.91bn ($1.27bn).

上海证交所今年IPO的数量和规模均明显下降。

The number and value of initial public offerings is well down in Shanghai this year.

汤姆森-路透(Thomson-Reuters)编制的数据显示，自今年年初以来，IPO所得总计79.5亿美元，较上年同期下降28.7%，当时有7家企业上市。上证综指自2007年10月的高点下跌47.3%，引起投资者普遍的不满。

Data compiled by Thomson Reuters say IPO proceeds have totalled $7.95bn since the beginning of the year, down 28.7 per cent on the same period last year, when seven companies floated. The 47.3 per cent decline in the Shanghai composite index since its peak in October 2007 is widely blamed.

金钼股份在首日交易中的涨幅高于中煤能源(China Coal Energy)和中国铁建(China Railway Construction)。中煤能源在2月1日的首日交易中上涨31.9%，而中国铁建在3月10日的首日交易中上涨28.2%。这仍然远远低于去年的水平，根据汤姆森-路透的统计，去年新股首日交易中平均涨幅为109.8%。此后，中煤能源跌破了发行价，同样跌破发行价的还有近期上市的中国太保(China Pacific Insurance)和中海集运(China Shipping⁴ Container Lines)。

Jinduicheng’s premium⁵ was above China Coal Energy’s 31.9 per cent gain on its first day of trading on February 1 and China Railway Construction’s increase of 28.2 per cent on its debut on March 10. That was still well below the average premium for the first day of trading of 109.8 per cent for IPOs in 2007 calculated by Thomson Reuters. China Coal has since fallen below its offer price, as have shares in other recent IPOs such as China Pacific Insurance and China Shipping Container Lines.