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CTrip.com Posts Successful IPO
Internet travel company CTrip.com(CTRP Quote) became the first IPO Tuesday to nearly double its share price on its first day in more than three years.
The Chinese hotel and booking company closed up $15.94, or 89%, at $33.94. The Shanghai-based firm sold 4.2 million American Depositary Shares at $18 a share to raise $76 million. Range talk was initially between $14 and $16 a share.
Not since chipmaker Transmeta(TMTA Quote) hit the market in November 2000 has a new offering done so well on its debut. ...
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