500.com takes off following IPO

After pricing its 5.8M-share IPO at $13, 500.com (WBAI) opened at $20 and is now at $21.78, up 67.5%. The Chinese online sports lottery service provider a market cap of $719M, or 25x 2012 sales.

58.com (WUBA +4.8%), another recent successful Chinese Internet IPO, might be seeing a sympathy move higher.

F-1, IPO preview, more details

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Comments (1)
  • KeithRichards
    , contributor
    Comments (44) | Send Message
    If your interested in investing in gambling and lottery companies, try SeanieMac (BETS) traded on OTC.
    22 Nov 2013, 01:55 PM Reply Like
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