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Story summary
- Enflame Technology's shares surged 188 percent in its Shanghai debut, valuing the firm at 176.4 billion yuan.
- The Tencent-backed AI chipmaker opened at 410 yuan, above its 142.18 yuan issue price.
- Enflame raised about 6.12 billion yuan by selling 43.04 million shares.
- The IPO valued the firm at roughly 61 billion yuan, one of mainland China's largest tech listings this year.
- Retail investors oversubscribed the offering 4,073 times, with about 7 million participants; individual allocation was 0.025 percent.
