Initial public offering hologram, night panoramic city view of Bangkok. The financial center for multinational corporations in Asia. The concept of boosting the growth by IPO process. Double exposure.

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Hong Kong online brokerage TOP Financial (NASDAQ:TOP) saw its shares rocket over 50% on Thursday after losing significant ground the last two sessions.

Shares of the company opened at $12.46, hitting a high of $22.62 in mid-afternoon. The stock closed at $19.25, up 52% from Wednesday’s close.

TOP shares have been volatile since the company held a $25M initial public offering on June 1, offering 5M shares priced at $5 per share. The company changed its name to TOP Financial from Zhong Yang on July 22.

The stock had been trending lower since July 20. It shot up 103% on Monday only to drop 26% on Tuesday and another 17% on Wednesday.

For more IPO news, check out SA’s IPO News page.

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