Wanda Cinema Surges to 44% Limit on Shenzhen Trading Debut

Wanda Cinema Line Co. rose to the exchange-imposed limit of 44 percent on its Shenzhen trading debut as investors tried to tap rising demand for entertainment among China’s growing middle class.

Wanda Cinema shares opened at 30.74 yuan, up from its 21.35 yuan IPO price and remained there until the close. The company has said it plans to invest 1.24 billion yuan ($200 million) of the proceeds from the initial public offering to expand its network to 260 theaters and 2,300 screens by the end of next year.