China-based hotel chain Atour Lifestyle Holdings rose 17% in its trading debut.
Atour, which operates more than 800 hotels in China, raised $52 million in its initial public offering by issuing 4.8 million American depositary shares at $11 apiece—the low end of the previously announced range.
Friday's strong debut coincided with a rally in other U.S.-listed Chinese stocks after China eased its Covid-19 rules.
The company first filed its draft registration statement in April 2021 and planned to raise more than $300 million at the time. However, IPO activity among Chinese firms has been muted since the Holding Foreign Companies Accountable Act, which strengthens audit requirements, took effect.
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