Oct 31 (Reuters) - Shares of 58.com Inc, an online classifieds company dubbed the Craigslist of China, rose more than 45 percent in their trading debut, valuing the company at about $3.82 billion.
The company raised $187 million after its initial public offering 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 Stock Exchange on Thursday and were trading at $24.60 at 9:49 a.m. ET.
Morgan Stanley, Credit Suisse and Citigroup were the lead underwriters to the offering.