Qihoo 360 more than doubles in US debut

The provider of internet and mobile security products raises $175.6 million and becomes the first Chinese company of size to list in the US this year.
Qihoo 360 Technology provides internet and mobile security products as well as China’s second most popular web browser after Microsoft’s Internet Explorer.
Qihoo 360 Technology provides internet and mobile security products as well as China’s second most popular web browser after Microsoft’s Internet Explorer.

Equity markets may remain volatile, but the interest in Qihoo 360 Technology’s initial public offering shows that investors are not shy about committing money to market newcomers when they sense a growth opportunity ahead. The Chinese company, which provides internet and mobile security products as well as China’s second most popular web browser after Microsoft’s Internet Explorer, raised $175.6 million yesterday morning after pricing its US IPO 16% above the top of the range at $14.50.

And when the stock started trading on the New York Stock Exchange last night, it more than doubled. At the strike of the closing bell, Qihoo had risen 134% above its IPO price...

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