(CapitalWatch, Nov. 11, New York) Chinese hotel chain Atour Lifestyle Holdings Ltd. (Nasdaq: ATAT) surged as high as 55% upon debut Friday, adding to the cheer of the green stocks across the board for the second day in a row.

Atour sold 4.75 million of its American depositary shares at $11 apiece, the lower end of the expected range of $11 to $13 per share. It thus raised $52.3 million in capital it plans to use for the expansion of its hotel network in China.

ATAT shares opened at $15.50 and briefly peaked at $17.05 per share before retreating by mid-day to the current level of $12.41, still 13% higher than the pricing. The surge indicates strong interest for solid Chinese stocks among U.S. investors despite the ongoing Washington-Beijing issues on sharing the audits.

The deal is secured by BofA Securities, Inc., Citigroup Global Markets Inc., China International Capital Corporation Hong Kong Securities Ltd., CMB International Capital Ltd., Redbridge Securities LLC, and Tiger Brokers (NZ) Ltd. The underwriters may acquire an additional 712,500 ADSs to cover over-allotments.

Atour is a recognized Chinese hotel chain, operating both high-end and budget hotels. According to market research by Frost & Sullivan, Atour said in its prospectus that it was the largest upper midscale hotel chain in China in terms of room number as of the end of 2021.

Among other perks, Atour is backed by Asia's largest travel booking platform, Trip.com Group Ltd. (Nasdaq: TCOM).

The IPO marks the first U.S.-China listing since late August, and it is the second-largest Chinese flotation in New York this year. After China's massive crackdown of 2021, many IPO applicants shelved their plans or turned to the domestic markets. Atour's IPO was postponed at the last minute in mid-2021, but the company kept its securities filings updated with the U.S. SEC and patiently waited its hour.

Now, the wait has paid off. While Atour walks away with just a sixth of its initial IPO target, it's a much celebratory day for the company and for Chinese firms that continue the pursuit of a New York listing.