Yintech $101m Nasdaq float ends flat on debut

Metal pipes 230px
By Jonathan Breen
28 Apr 2016

China’s Yintech Investment Holdings closed unchanged on its first day of trading on the Nasdaq on Wednesday, after pricing its $101.3m IPO at the mid-point of the range.

The metals exchange operator sold 7.5m American Depositary Receipts (ADSs), which represent 150m ordinary shares, at $13.5 apiece — the midpoint of the $12.5-$14.5m marketing range.

Sole sponsor Jefferies opened books for the deal on April 20 to strong demand and was able to cover the offering within a few ...

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