The drama content producer, which counts iQiyi among its investors, has gone public in Hong Kong and seen its share price rise 84% on its first day of trading.

Strawbear Entertainment Group, a China-based television producer that counts online streaming platform iQiyi as an investor, floated on the Hong Kong Stock Exchange on Friday in a HK$975m ($126m) initial public offering, DealStreetAsia reported.

The company issued 166 million shares for the IPO priced at HK$5.88 each. They opened trading at HK$7.00 each and closed at $10.80. E-commerce platform developer Vipshop, Snow Lake Capital and IDG’s Origin Flair subsidiary were among the anchor investors for the offering.

Founded in 2014,…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.
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