American depositary shares of RLX Technology Inc jumped 86per cent in their U.S. stock market debut on Friday, giving the Chinese vaping firm a market capitalization of nearly US$35 billion.
RLX's shares opened at US$22.34, well above their initial public offering price of US$12 per share. Shares were up 58per cent in early trade on the New York Stock Exchange.The Beijing-based company offered 116.5 million shares in its IPO, raising US$1.4 billion, after having earlier targeted a price range of US$8 to US$10 per share.