Ninetowns debuts on Nasdaq

Well-covered books helps rise in early trading.

Chinese business software company Ninetowns Digital World Trade Holdings priced a 9.6 million unit Nasdaq IPO on Thursday evening and saw the $105.6 million deal trade up 13% in early trading Friday.

With JPMorgan as lead manager, the group priced the deal at $11, midway through the $10 to $12 price range Some 6.4 million ADSs represent the sale of new shares, while 3.2 million ADSs represent selling shareholders.

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