Shares of the Israel-based company were climbing 32% to $35.70.
The initial public offering is the biggest U.S. listing in 2021 so far and values Playtika at $11.1 billion, Reuters reported.
Playtika's IPO was priced at $27 a share, above its previously announced price range of $22 to $24. The company sold 69.5 million common shares in the offering.
The IPO consisted of roughly 18.5 million common shares being offered by the company and about 51 million shares from an existing stockholder.
The company granted the underwriters a 30-day option to buy up to about 10.4 million shares at the same IPO price.
In 2016, a group of Chinese investors including Giant Network Group and Yunfeng Capital, a private-equity firm founded by Alibaba Group founder Jack Ma, acquired Playtika from Caesars Interactive Entertainment for $4.4 billion.
Playtika, which was founded 10 years ago, said it has more than 3,700 employees in 19 offices worldwide.
"We own some of the most iconic mobile games in the world, many of which are the #1 games in their respective genres," the company said in its regulatory filing. "Our players love our games because they are fun, creative, engaging, and kept fresh through a steady release of new features that are customized for different player segments."
For the nine-month period ended Sept. 30, Playtika reported revenue of $1.8 billion, up 29% from the year-ago period.
Playtika said each of its top nine games, which collectively represented 97.6% of revenue for the nine months ended September 30, rank in the top 100 highest grossing mobile games in the United States.
Playtika said it has primarily grown its game portfolio through acquisitions.
"We also develop new games using our internal development teams and infrastructure, applying learnings from our existing games," the filing said. "We build long-term, sustainable games by employing a combination of creative and technical staff that includes storytellers, coders, artists, and data-scientists."