UPDATE 2-CDC Software shares slump in market debut
* Shares down more than 9 pct in trading debut
* Shares opened at $12, same as IPO price (Adds opening price and early share moves)
NEW YORK, Aug 6 (Reuters) - CDC Software Corp (CDCS.O: Quote, Profile, Research, Stock Buzz) shares fell more than 9 percent in their stock market debut on Thursday.
The shares started trading at $12, the same price as the initial public offering, but were down to $10.85 by late morning on the Nasdaq.
Hong Kong-based CDC Software, an affiliate of CDC Corp (CHINA.O: Quote, Profile, Research, Stock Buzz) that makes automated business processes software, sold 4.8 million American Depositary Shares, raising $57.6 million. in its IPO Wednesday.
CDC Software had expected the shares to price between $11 and $13, according to a recent regulatory filing.
The IPO's underwriters, led by Lazard Capital Markets (LAZ.N: Quote, Profile, Research, Stock Buzz) and JMP Securities, have an option to buy another 720,000 shares to cover over-allotments. (Reporting by Phil Wahba, editing by John Wallace)
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