Shanghai Liulishuo Information Technology Co., Ltd, a spoken English learning app, went public in NYSE under LAIX on September 27.

The trading opened at $16.00 per share, 28% up the initial offering price $12.5. The stock price settled to $12.65 after the first trading day ended. This would boost Liulishuo’s market cap to around $600 million.

“I am very satisfied with the good opening performance of the stock, given the recent [capital] market turbulence. Short-term fluctuations are normal, but it’s all about the long-term, ” Wang Yi, CEO at Liuliushuo, told to TechNode soon after the trading began.

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Runhua Zhao

Runhua Zhao is a technology reporter based in Beijing. Connect with her via email: runhuazhao@technode.com