China's CNinsure raises $188 million
NEW YORK, Oct 30 (Reuters) - CNinsure Inc, a Chinese insurance agency and brokerage, on Tuesday raised $188 million with an initial public offering that priced above expectations.
The 11.76-million American Depositary Share offering priced at $16 per share, compared with a forecast range of $13 to $15, which was earlier raised from a $11 to $13 share range.
Each ADS represents 20 ordinary shares. The company plans to trade its shares on Nasdaq under the symbol "CISG." (CISG.O: Quote, Profile, Research, Stock Buzz) (Reporting by Lilla Zuill; writing by Emily Chasan)
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