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Chinese property consultant prices US IPO near bottom; gains 18% on debut

China Real Estate Information Corp raises $216 million from its US IPO, while Genting Singapore says its $1.2 billion rights issue was 135% covered.

China Real Estate Information Corp CRIC raised $216 million from its US initial public offering after fixing the price towards the low end of the indicated range. Investors welcomed the move and pushed the stock 18.3% higher in its New York trading debut on Friday. This is in contrast with the fortunes of Shanda Games, which last month completed a $1 billion IPO -- the largest ever US listing by a Chinese company -- only to drop by 14% on its first day of trading.

Also at the end of last week, Genting Singapore announced that its $1.2 billion right issue had been significantly oversubscribed.

CRIC has two main business lines the sale...

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