Charm Communications raises $74.2 million in US IPO

The company fixes the price near the bottom of the indicated range at $9.50 to increase the potential upside, and the stock opens higher in its Nasdaq trading debut last night.

Despite the widening government-debt crisis in Europe and as many as eight initial public offerings crowding the US exchanges this week, a small deal out of China sailed through the US primary markets, putting a spell of charm on cautious investors.

Charm Communications, a Chinese television advertising agency, raised $74.2 million in a Nasdaq IPO after pricing its shares towards the bottom of the indicated range -- a move designed to increase the potential for gains in the...

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