Dalian Port opened at 4.59 yuan (69 cents) on its first day of trade in Shanghai on Dec 6 compared with its IPO price of 3.80 yuan.

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Within the first minutes of trade, it rose as much as 26 percent from the IPO price to 4.80 yuan.

Dalian Port raised 5.7 billion yuan after selling 1.5 billion new shares, half of which went to the investment public, with the other half to its controlling shareholder Dalian Port Corp Ltd.

North China's biggest port operator last month cut its A-share issue size by 37.5 percent from its earlier planned issue of 2.4 billion shares, citing volatile market conditions.

The port, located in the northeastern Liaoning province, operates one of China's three oil terminals.