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BUSINESS & TECH

From Internet Novel to Screen: Are Adaptations Becoming Hot in China?

By Shi Rui, Qu Yunxu and Teng Jingxuan
China Literature Co-CEOs Liang Xiaodong (right) and Wu Wenhui (left) bang a gong to launch the company’s initial public offering on the Hong Kong Stock Exchange on Nov. 8. Photo: Visual China
China Literature Co-CEOs Liang Xiaodong (right) and Wu Wenhui (left) bang a gong to launch the company’s initial public offering on the Hong Kong Stock Exchange on Nov. 8. Photo: Visual China

Romance, mystery, and martial arts — these are some of the most important ingredients that went into one of the year’s biggest initial public offerings (IPOs) of a Chinese technology company.

China Literature, web entertainment leader Tencent’s online publishing unit, saw its share price double on its first day of trading in Hong Kong on Nov. 8 after an immensely oversubscribed IPO that raised HK$8.33 billion ($1.07 billion).

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