By Kimberley Kao

Shares of the maker of Insta360 cameras surged on their trading debut in Shanghai, as investors piled into the stock of the GoPro competitor.

Arashi Vision, which does business as Insta360, rose nearly four-fold to 178.93 yuan, the equivalent of $24.89, early Wednesday on the Shanghai Stock Exchange Science and Technology Innovation board.

Insta360 issued 41 million shares in its initial public offering, pricing it at 47.27 yuan each and raising the equivalent of about $270 million.

The Shenzhen-based company manufactures paranomic 360-degree filming cameras, sports action cameras, and has its own editing software for users.

It plans to use the funds raised from the IPO to further production plans, including a research and development center in Shenzhen, according to the prospectus.

In the field of paranomic cameras, Insta360 had a global market share of 67.2% in 2023, its prospectus said, citing data from Frost & Sullivan, beating out competitors like GoPro.

For 2024, it posted revenue of 5.57 billion yuan, with China accounting for 24%, while the U.S. and Europe each accounted for 23%.

Write to Kimberley Kao at kimberley.kao@wsj.com

(END) Dow Jones Newswires

June 11, 2025 00:04 ET (04:04 GMT)

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