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Chinese Software Firm Does IPO
October 24, 2007 |
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Longtop (LFT), a software developer and solutions provider targeting the financial services industry in China, has priced its initial public offering shares.
Its offering of 10,434,500 American Depositary Shares has been priced at US$17.50 per share. The ADSs, each representing one ordinary share of Longtop, will begin trading on the New York Stock Exchange under the ticker symbol "LFT" today.
Longtop and selling shareholders have granted the underwriters a 30-day option to purchase up to an additional 1,565,175 ADSs.
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