Luxury hotel and resort company Jinling Hotel has formally done its initial public offering on the Shanghai Stock Exchange as the first listed hospitality enterprise from China's Jiangsu Province.

Jinling Hotel's stock opened at RMB8.5 on its first trading day and it increased to RMB12.47 at the day's close, which was nearly three-times that of the hotel's issuance price of RMB4.25 and was the market's quickest growing stock since Jinling Hotel initiated its IPO plans in June 2006.

Jinling Hotel issued a total of 22 million shares offline and 88 million shares online this time. As of March 22, 229 investors applied to purchase the offline stock with total funds of RMB19.4 billion. As of March 26, the fund for online stock purchases broke RMB593.7 billion. According to local media, this shows that the company's stock has strong appeal among Chinese investors.