Chinese site 58.com soars in IPO opening

31 Oct 2013
The world’s newest publicly traded classified company traded today at almost 50 percent above its planned IPO price --- even though it’s been profitable for less than a year. Barely profitable. Shares of 58.com opened trading this morning on the New York Stock Exchange with the symbol WUBA. “WUBA” is 58 in Mandarin Chinese. After about 90 minutes of trading, the stock soared to $24.83 from i


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