The strong Nasdaq debut showing of Shanghai-based Linktone (LTON) has continued the trend of high investor interest on Wall Street in Chinese companies.

LTON, a provider of wireless services for mobile phone users in China, raised US$86m in its global IPO and listing of American Depositary Shares (ADSs), which was 15 times over-subscribed. Priced at US$14 per ADS, above the initial range of US$10-12, the offering traded up 25% on its first day of trading on 4 March.

Morrison & Foerster acted for LTON, with its China Group team including Beijing managing partner Steve Toronto and Shanghai head Chuck Comey.

Commerce & Finance Law Offices was PRC counsel to the issuer.

The underwriter group was led by Credit Suisse First Boston, which turned to Simpson Thacher & Bartlett (partner Chris Lin) and Haiwen & Partners for advice on US and PRC law matters respectively.

MoFo's Comey said: "We're pleased to see all of the management team's hard work throughout the offering process pay off in the end with this validation by the market. Linktone is a dynamic young company that reflects the strong activity we are seeing now in the technology and telecom sectors in China."

The LTON offering is just the latest example of a Chinese company receiving a warm reception when listing overseas. Also in March TOM Online debuted on Nasdaq, with Sullivan & Cromwell's Chun Wei advising the issuer while Milbank Tweed's Anthony Root acted for the underwriters.

And these deals followed last year's mammoth China Life Insurance IPO and December's Ctrip.com International Nasdaq listing.