Strong US debut for Chinese insurance agency
CNinsure jumps 58% after pricing its $186 million IPO 23% above the original range.
CNinsure didnÆt disappoint in its Nasdaq trading debut yesterday which coincided with the second US rate cut in two months, and held its ground even as the rest of the market had a volatile session.
The Chinese insurance agency and brokerage was up as much as 79.6% to a high of $28.74 early in the session but hovered around or just above the $25 mark for most of the day. It closed 58% above its IPO price at $25.29.
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