Shares of the Chinese short-form video app Kuaishou surged more than 190% on the company’s launch on Hong Kong’s stock exchange on Friday.
Shortly after the company listed, shares were selling at more than HK$300 ($38.07; £28.31), nearly triple the list price of HK$115.
Kuaishou is one of the most hotly-anticipated initial public offerings this year and has raised $5.4bn (£4bn).
The app has a massive user base in China and competes with TikTok.
What is Kuaishou?
When it was created in 2012, Kuaishou was originally a mobile app for making GIF animations.
Now, it is a short-form video platform that competes with ByteDance’s TikTok app, but is also popular for livestreaming.
In documents tendered with the Hong Kong stock exchange, Kuaishou said it aimed to be “the most customer-obsessed company in the world”.
Kuaishou claims 305 million daily active users, who spent an average of 86 minutes or more on the app.
-BBC BUSINESS