Cussion Kar Shun Pang, CEO of Tencent Music Entertainment with the company's leadership team rings a ceremonial bell to celebrate company's IPO on the floor of the New York Stock Exchange in New York, December 12, 2018.

Tencent Music Entertainment Group popped in its debut on the public markets Wednesday, closing the day up 9.2 percent at $14.19 per share.

The music arm of Chinese tech giant Tencent said Tuesday it raised close to $1.1 billion after pricing its shares at $13 a piece, at the bottom of its stated range of $13 to $15. That initial sale gives the company an implied valuation of $21.3 billion.

The highly anticipated initial public offering is one of the largest U.S. IPOs by a Chinese company since Alibaba raised over $20 billion in 2014, and comes amid heightened tensions between the Chinese and U.S. governments.

Tencent Music initially planned to launch the deal in October, but postponed because of a sell-off in global markets roiled by a U.S.-China trade war and fears of slowing global growth.