BY LYNN COWAN
Online bookseller E-Commerce China Dangdang Inc.'s IPO drew strong investor interest in early trading, surging more than 50% on its first trade in the U.S.
The company's stock opened at $24.50 a share on the New York Stock Exchange, up 53% from its initial public offering price of $16. A total of 17 million American depositary shares were sold, valuing the offering at $272 million, at a price above its revised $13-$15 range. The company increased its price range earlier this week from its original plans of $11-$13 a share.
In midmorning ...
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