500.com takes off following IPO

|About: 500.com Limited (WBAI)|By:, SA News Editor

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