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China tech

Chinese cosmetic surgery app has pretty debut on Nasdaq

So-Young shares close 30% higher than initial offering price

Shares in So-Young, an online marketplace for cosmetic procedures, jumped more than 30% on their first day of trading. (Photo courtesy of Nasdaq)

NEW YORK -- So-Young, an online marketplace in China for cosmetic procedures, surged Thursday on Nasdaq after its $179 million initial public offering, reflecting investor appetite for the country's aesthetic medicine boom.

The Beijing-based company opened at $16.50 on its first day of trading -- about 20% above the IPO price -- crested at $19.98 and closed at $18.20 on a down day for the Nasdaq composite and two other big-name U.S. stock indexes. The company originally filed for a $150 million listing but later raised its target, a sign of high demand.

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