The shares of Forgame Holdings Ltd soared more than a third of its stock price in its trading debut in Hong Kong on Thursday, a Reuters report said. Forgame Holdings is the biggest developer of Web games in China. The report also said the shares had underscored the optimism of the company's investors that had fueled stock rallies on the Nasdaq this year.
Foregone's offer had created a strong interest from small investors and was valued near the top of a marketing range. The company had raised around USD206 million and investors who missed out on the shares had chased the stock last Thursday.
The move had sent the stock's value to increase as much as 36.5%. This was comparable with the 0.8% increase in the technology sub-index on the Hong Kong Stock Exchange. Forgone's debut came on the heels of 25% stock rally on Nasdaq's Composite index.
Join the Conversation