China's 500.com jumps 54% on NYSE debut
Shares in VC-backed 500.com gained 54% as the Chinese online sports lottery provider made its US trading debut on Friday. The stock peaked at $21.85 before closing at $20.01, valuing the company at $700 million.
500.com earlier raised about $75 million in its IPO, after selling 5.8 million American Depository Shares (ADS) at $13 per apiece, above the indicative price range of $9-11. The first trade opened under...
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