US warms to China as HanTing raises $110m
China Lodging, owner of Chinese hotel chain HanTing, soared on its Nasdaq debut last Friday (March 26) after pricing a popular $110m IPO at the top of its target range.
China Lodging Group, which operates under the HanTing brand, sold 9m American Depositary Shares at the high end of its $10.25-$12.25 price range, giving the company an enterprise value of around 11.9 times 2010 earnings.The stock opened at $13.62 on Friday and rose as high as $15.50 before ...
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