Lakala Payment Co Ltd, a Beijing-based third-party payment company with investment from Chinese Consortium (also known as Suzhou Industrial Park Co Ltd), went public on Apr 25 at Shenzhen Stock Exchange’s ChiNext market, a NASDAQ-type board for innovative high-growth startups. 

The company, founded in 2005, is reportedly the first company of its kind listed at the country’s A-share market, and the second Chinese Consortium-funded company listed this year, following CanSino Biologics Inc, an SIP-based biotech firm that debuted at Hong Kong Exchanges and Clearing Market on Mar 28.

The company offered 40.01 million shares priced at RMB 33.28 each in its IPO, and the first day of trading ended at RMB 47.92 apiece (up 44%), raising the company’s market valuation to RMB 19.2 billion.