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Anyone familiar with this

Shares of China’s classifieds website soar in debut

NEW YORK – Shares of Inc, an online classifieds company dubbed the Craigslist of China, rose as much as 59 per cent in their trading debut, a sign that the cloud over US-listed Chinese companies is lifting. raised US$187 million (S$232 million) after its initial public offering was priced at US$17 per American depositary share (ADS), well above its expected price range of US$13 to US$15.

The company sold 11 million shares in the offering.

The company’s shares opened at US$21.20 on the New York Stock Exchange on Thursday and touched a high of US$27.00, before closing at US$24.12.

WP X Asia Online Investment Holdings, a unit of private equity firm Warburg Pincus, is the largest shareholder in the Beijing-based company with a 26 per cent stake. has 130 million monthly users and had about 4.3 million active local merchants in its marketplace in the second quarter, according to the company’s IPO filing.

The company also said its website averaged 1.9 million listings per day from 380 Chinese cities and about 39 percent of its average monthly page views came from mobile applications.
Haha looks like the US investors/speculators are easily convinced to buy Big Grin