Hong Kong listed shares WeiboOn Wednesday, they opened lower at trading debut.

The shares were opened at 256.20 Hong Kongdollars ($32.85 apiece) in comparison to an offer price 272.80 Hong Kongdollars ($34.98).

The secondary listing was made by the Chinese social media company, who raised around $385 million.

Nasdaq is the US’s main stock exchange. The stock rose 4.69% over the overnight session.

Weibo gets secondary listing as Chinese ride-hailing giant DidiLast week it will delist from the New York Stock ExchangeMake plans now to list your property in Hong Kong

Chinese regulators reportedlyDidi’s decision not to register in the U.S. was criticized. It also failed to resolve outstanding cybersecurity problems. The regulators asked the executives of Didi to devise a plan for delisting from the U.S. to address concerns about data leakage. according to reports.

Didi, China’s most popular ride-hailing service, has a lot of information on users and travel routes.

Weibo, a Chinese Internet company that has just completed a secondary listing in Hong Kong is Weibo.

Search engine giants are another example of someone who has done this in the recent past. Baidu, e-commerce behemoth AlibabaIts competitor JD.comAs well as in a gaming company NetEase.

This has been done for many years. wild ride over the past year for China’s technology sector. Companies saw their market values drop by billions as regulators increased their scrutiny. Beijing is pushing for technology self-sufficiency.

— This report was contributed by Weizhen Tan, CNBC.