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Lifestyle Blog Hypebeast Soars 708% in Record Asia Debut

  • Former sneaker blog jumped as much as 2,000% on first day
  • Company is now a digital media and e-commerce platform
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Hypebeast Ltd., the collection of fashion and entertainment blogs that started out as an online sneaker forum, had the best debut of any Asian initial public offering this year.

It was up more than eight-fold at Monday’s close, conferring a valuation of HK$2.1 billion ($270 million) on the 10-year-old company. That’s Asia’s best first-day performance in 2016, surpassing the near-700 percent gain that Ching Lee Holdings Ltd. managed in March, according to data compiled by Bloomberg. At one point, the company jumped as much as 2,000 percent on Hong Kong’s Growth Enterprise Market.