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In particular, the Stock Connect allows mainland investors to invest here,” he said, responding to questions about why the firm chose Hong Kong to list.

The stock surge on Wednesday has also benefited Pony Ma Huateng, chairman and CEO of Tencent.

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To avoid personalized advertising based on your mobile app activity, you can install the DAA’s App Choices app here.You can find much more information about your privacy choices in our privacy policy.Wu Wenhui, its co-chief executive officer, said earlier this year that the company’s future focuses will be developing film, television, games, and other entertainment products based on its IP.“We want to become China’s version of Marvel,” Wu said then.The platform has 9.6 million literary works from 6.4 million authors.

The IPO has locked in investor capital of more than HK0 billion, the second largest in Hong Kong IPO history, after China Railway Construction’s HK5 billion in 2008.

As Tencent controls 53 per cent of China Literature, its stake is worth HK billion based on Wednesday’s closing price.

Ma, who personally owns an 8.63 per cent stake in Tencent, could see his interest in China Literature worth as much as HK.2 billion.

“Through this IPO, we want to bring Chinese original literature to a more Hong Kong and global audience.

In future, the company will try to develop products based on the IP we own, and also expand the genres of e-books,” he added on Wednesday.

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