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Nikkei Markets

China Literature Exercises Over-Allotment Option After Shares Surge In Hong Kong

By Carrie Chen
Nikkei Markets
HONG KONG (Nov 10) -- Online publishing and e-book company China Literature said an over-allotment option for its initial public offering was fully exercised after the stock nearly doubled amid strong demand following its listing this week.

The company, majority owned by social media and gaming major Tencent Holdings, raised $1.1 billion from a 151.4 million-share IPO last week. It jumped 86% in its trading debut on Wednesday.

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