500.com Limited, a Ministry of Finance-authorised online sports-lottery vendor in China, saw its shares soar by more than 50 per cent during its first day of trading on the New York Stock Exchange Friday.
The company had priced its initial public offering of 5,786,000 American Depositary Shares (ADSs) at $13.00 per share, with each ADS representing ten Class A ordinary shares of the company.
This created a total offering size of $75.2m. The company said that it [...]
