China's YY increases in its debut in NASDAQ

Chinese social platform company YY Inc. made its initial offerings (IPO) on Wednesday, rising 7.71 percent to close at 11.31 dollars per share.

YY, a revolutionary rich communication social platform that engages users in real-time online group activities through voice, text and video, priced 7.8 million American depositary shares at 10.50 dollars per share under the ticker of "YY".

Shortly after opening, the stock hit 11.75 dollars per share, the highest level in first day's trading.

The company's client has attracted 400.5 million registered user accounts as of September 30, 2012.

This IPO was the first time for Chinese company going to the U. S. market in eight months, after Vipshop, China's leading flash sales website was listed in the New York Stock Exchange in March 23, 2012.