The 45 million ADS offering, with each ADS representing one of the company's Class A ordinary share, raised about $585 million and is expected to debut on the New York Stock Exchange under the symbol "SOGO" on Thursday. The figure could rise to as high as $650 million if the underwriter exercises an overallotment option. Sogou then hovered around $13.50 for most of its first day of trading, closing the day at $13.51, up about 4 percent.
It also represents the latest in a recent flurry of NY listings by Asian companies, joining other Chinese firms as well as startups from Singapore and Taiwan in tapping US equity markets for capital this year.
It was on October 13 that Sohu.com said its unit has filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission relating to a proposed IPO.
Sougou is the second major Chinese tech stock to list this week after Tencent-owned China Literature debuted in Hong Kong on Wednesday.
Sougou's IPO price was set at the top of its $11-$13 range for its 45 million American depositary shares.
Sogou expects the size of the domestic online search industry will balloon to $30.7 billion in 2021 from $11.5 billion in 2016, driven by the hundreds of millions of Chinese who browse the internet on their mobile phones.
Backed by Tencent Holdings, Sougou has benefited from being the default search engine on various Tencent products that provide general search offerings, such as the Mobile QQ Browser, qq.com, WeChat and the PC Web directories daohang.qq.com and hao.qq.com.
Beijing-based Sogou aims to be a Google for China.
The flotation was jointly managed by USA banks JPMorgan and Goldman Sachs, along with Credit Suisse and China's CICC.
Sogou is the latest in a string of private Chinese internet companies to make offshore listings over the last two months.