Segway owner's IPO success opens new path for Chinese listings

Ninebot shares gain as much as 163% in debut on STAR Market

Ninebot President Wang Ye unveils the semi-autonomous scooter KickScooter T60 at a product launch event in Beijing last year. © Reuters

NARAYANAN SOMASUNDARAM, Nikkei Asia chief banking and financial correspondent

October 29, 2020 15:17 JST

Updated on October 29, 2020 18:10 JST

HONG KONG -- Ninebot, owner of the Segway scooter brand, soared in its debut on Shanghai's STAR Market on Thursday, heralding a new path to listing for Chinese companies.

The Chinese depositary receipts of Ninebot, the first-ever issued in China, surged as much as 163% following the company's 1.33 billion yuan ($197.9 million) initial public offering.