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Post time 2011-5-6 20:30:53 |Display all floors
IPO for China's top social network pops in first-day trading
By Tim Mullaney, Special for USA TODAY

China's top social-networking site has gone public, and whatever your stance on whether Silicon Valley is in a bubble there's little denying that the party is on for RenRen.

Beijing-based RenRen went public at $14 a share, and jumped as much as 71 percent before settling back to $19.50 as of this morning.

As Bloomberg reports, the IPO price valued each dollar of RenRen's 2010 sales nearly three times more highly than recent venture-capital deals valued U.S. social-networking leader Facebook. Traders said the price was a bet that the Chinese economy's faster growth and lower levels of Internet penetration gives RenRen even more room to grow.

Maybe. But big mid-2000s gains in so-called ChinaNet IPOs like travel agency Ctrip.com International Ltd. and portal site Sina were possible partly because most of those stocks were much cheaper when they went public than their U.S. counterparts. Retail investors who hope to grab a piece of the encore might ask themselves whether the Wall Street pros have already scooped up the easy money this time.

These charts show how lucrative Chinese Net IPOs can be. But of the stocks shown, only search engine Baidu was anywhere near as expensive when it went public as RenRen is now.
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Post time 2011-5-6 20:34:44 |Display all floors

Renren IPO: From Hot to Not.

By Shira Ovide
May 5, 2011
It’s quite a post-IPO hangover for the “Facebook of China.” Shares of Renren are sinking about 8.9% today after its hot debut yesterday as a public company.

Shares of Renren finished their first day of trading at $18.01, up 29% from the IPO price of $14 a share. Right now, shares are hovering around $16.34 each.

Today’s hot Chinese IPO, mobile security company NetQin, isn’t faring better. NetQin shares, which debuted this morning on the New York Stock Exchange, have shriveled by 21.2% to $9.06.
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Post time 2011-5-6 20:36:26 |Display all floors

Renren IPO: From Hot to Not.

By Shira Ovide
May 5 2011

It's quite a post-IPO hangover for the "Facebook of China." Shares of Renren are sinking about 8.9% today after its hot debut yesterday as a public company.

Shares of Renren finished their first day of trading at $18.01, up 29% from the IPO price of $14 a share. Right now, shares are hovering around $16.34 each.

Today's hot Chinese IPO, mobile security company NetQin, isn't faring better. NetQin shares, which debuted this morning on the New York Stock Exchange, have shriveled by 21.2% to $9.06.
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Post time 2011-5-6 21:09:15 |Display all floors

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