Yintech Investment Holdings Begins Trading Above Issue Price

By Markets MarketWatch Pulse

Shares of Yintech Investment Holdings , a Chinese online provider of spot commodity trading services, opened at $13.80 on the Nasdaq Wednesday, above its IPO issue price of $13.50. Each ADS share represents 20 ordinary shares of the company. The company sold 7.5 million American depositary shares to raise about $101.3 million. Jefferies LLC was the lead underwriter.

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