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Strategies & Market Trends : Greater China Junior Stocks

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From: Julius Wong	10/23/2007 12:38:06 PM
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China's Fuqi opens up in market debut Tue Oct 23, 2007 11:59am EDT NEW YORK, Oct 23 (Reuters) - Shares of Chinese jewelry maker Fuqi International Inc (FUQI.O: Quote, Profile, Research) rose in their market debut on Tuesday, after raising $63 million in an initial public offering priced at the top of a forecast range. The shares opened at $10.01, or 11 percent higher, before rising as high as $11.20 in late-morning trade on Nasdaq. Earlier Tuesday, the offering of 7 million shares priced at $9 per share, compared with a forecast range of $7 to $9 forecast, according to a statement issued by the company. Underwriters, led by Merriman Curhan Ford & Co, have the option to purchase an additional 1 million shares to cover overallotments.

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