China's online sports lottery service provider 500.com starts trading at the New York Stock Exchange on Friday in New York. [Photo by Wan Li / For China Daily]

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The streak of Chinese IPO comebacks continues. Online sports-lottery operator 500.com's initial public offering on the New York Stock Exchange Friday raised $75.2 million.

Shenzhen-based 500.com offered 5.8 million American Depositary Shares priced at $13 a share, up from an earlier range of $9-$11 a share.

Trading under the symbol WBAI, 500.com opened at $20 and closed at $18.64, a 43.4 percent jump. Deutsche Bank Securities Inc was the sole bookrunner of the offering.

Founded in 2001, 500.com allows users to place bets through the Internet and through its mobile applications, and is one of the first companies to provide online lottery services in China. It is one of two entities that have been approved by the Ministry of Finance to provide online lottery sales on behalf of the China Sports Lottery Administration Center.

The lottery site has 18.4 million active users and a 29 percent market share of the sports lottery products market. Its total lottery sales for the nine months of 2013 through September totaled 2 billion yuan ($322.8 million), and net income for the same period totaled 20.6 million yuan ($3.4 million), almost double the amount for the same period in 2012, the company's regulatory filing showed.

500.com's IPO is the fifth Chinese IPO this year, after two years of inactivity in the US stock market from Chinese companies due to accounting scandals. Online retailer LightInTheBox debuted in June after a seven-month drought, and "Chinese Craigslist" 58.com and Baidu-backed Qunar both went public at the beginning of November, signaling a returning interest in the stock market in Chinese companies.

But "the air has been filled with mixed signals on new offshore IPOs by Chinese tech firms this past week," wrote Doug Young on the stock market analysis website Seeking Alpha. Both travel site Qunar and LightIntheBox's shares fell after the two companies posted losses in their third quarter earnings reports this week, and 500.com's IPO did not go entirely as planned: the company filed for a $150 million IPO in October and then had to cut the size of its IPO due to weak investor sentiment, according to Seeking Alpha.

Still, 500.com CEO Man San Law told China Daily that there is little the company can do in the face of market volatility, except have management "push forward the company's business and make its behaviors better meet compliance requirements. Market volatility is beyond our control."

To counter tripping over potential compliance issues—especially since the lottery industry's trading rules are "far stricter" than those of other e-commerce sites, Law said—four years ago 500.com brought on Ernst & Young to begin auditing the company annually. "Because our industry has increasingly strict regulations, we have strict requirements for ourselves," said Law.

The company's board of directors includes former CEO of e-commerce giant Alibaba and vice chairman of Ctrip, a travel-booking site. "The purpose is to let experts who are more familiar with US market and rules help us better meet compliance requirements," Law said.

Wan Li contributed to this report.