(Yicai Global) July 15 -- Film and television production and artistic performance education firm Cathay Media’s shares [HKG:1981] vaulted 51.61 percent to HKD4.70 (60 US cents) today during its initial public offering on the Hong Kong stock market.

The Beijing-based firm opened up 36.45 percent at HKD4.23 this morning. It issued 400 million shares priced at HKD3.10 per and was expected to raise HKD1.15 billion (USD148.4), according to the statement it released yesterday.

Cathay Media has produced many TV series adapted from novels written by famous martial-fantasy novelist Jin Yong, including ‘The Legend of The Condor Heroes.’ Its revenue was CNY747.2 million (USD106.77 million) last year, and its net profit was CNY194.5 million.

Editor: Ben Armour