Qihoo shares break out big in NYSE IPO
The share price of Qihoo 360, China’s market-leading provider of internet and mobile security products, and third most popular company in the space by customer volume, more than doubled its already premium-plus $13.50-14.50 per ADS initial offering to $32.10, raising $175.5 million in its NYSE debut.
Originally the Chinese company had filed to offer the shares at $10.50-12.50, but bumped the price up by $2 at the last minute after gauging likely investor demand, according to reports. Demand seems...
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