Shares in Tencent’s ebook subsidiary China Literature soared more than 80 per cent on their trading debut in Hong Kong on Wednesday, in the city’s biggest technology initial public offering in 10 years.
China Literature raised HK$8.3bn ($1.1bn) in a heavily oversubscribed IPO, dwarfing the HK$1.55bn raised by its parent Tencent in its 2004 listing.
Its shares jumped 82 per cent to HK$100 in opening trading after being priced on Tuesday at HK$55 each, at the top of the range announced by the company.
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