Chinese toymaker Pop Mart shares jump 100% in Hong Kong IPO debut

Shares of Chinese toymaker Pop Mart opened 100 percent higher in its Hong Kong stock market debut on Friday.

The company raised $676 million on Thursday through the sale of 135.7 million new shares.

The Beijing-based company priced its IPO shares at 38.50 Hong Kong dollars in the deal.

Established in 2010, the culture and entertainment company focuses on IP incubation and trendy products. It became popular with blind box, where buyers have no idea what toys they're getting.

(A Pop Mart chain store in Beijing, December 6, 2020. /CFP)