JD delivers with 10% increase on Nasdaq debut
By He Wei in Shanghai | China Daily | Updated: 2014-05-24 07:27
A new wave of enthusiasm for Chinese companies swept Wall Street as e-commerce giant JD.com Inc made its Nasdaq debut on Thursday.
Shares of the Chinese online retailer closed at $20.90 on the first day, 10 percent higher than the offering price, igniting hopes that tech stocks, along with China concept shares, are on the mend.
The company's initial pricing topped the expected range of $16 to $18 per share.
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