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,…

Robert Lavine

Robert Lavine is special features editor for Global Venturing.