Shares of China's classifieds website 58.com rise 45 pct in debut

Reuters

Oct 31 (Reuters) - Shares of 58.com Inc, an onlineclassifieds company dubbed the Craigslist of China, rose morethan 45 percent in their trading debut, valuing the company atabout $3.82 billion.

The company raised $187 million after its initial publicoffering was priced at $17 per American depositary share (ADS),well above its expected price range of $13 to $15.

58.com sold 11 million shares in the offering.

The company's shares opened at $21.20 on the New York StockExchange on Thursday and were trading at $24.60 at 9:49 a.m. ET.

Morgan Stanley, Credit Suisse and Citigroup were the leadunderwriters to the offering.

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