Shares prices of China's ZhongDe Waste Technology AG jumped significantly Friday after a rare "buying spree" on its first day of listing in the Frankfurt-based German stock exchange.

Share price of the company rose to 30 euros (41 U.S. dollars) in early trading Friday, well above the company's initial public offering (IPO) price of 26 euros.

Zheng Zefeng, chief of Zhong De, told Xinhua that the listing was "very successful" and the high over subscription indicated that Germans and other international investors are "optimistic" about the prospect of the waste technology in China.

Zhong De, the biggest producer of waste incinerators in China, offered 4.2 million shares in its IPO on Friday and the relatively small 109-million euro issue has been oversubscribed 13.5 times.

It is the first Chinese company to be listed in the German stock exchange's Prime Standard segment, which requires the highest standards of transparency for listed companies.