- Though Sungy Mobile's (GOMO) IPO performance isn't quite as impressive as 500.com's, investors likely aren't complaining. After pricing its 7M-share offering at $11.22 (within a range of $9.50-$11.50), shares opened at $14.11 and are currently at $15.90, up 42%.
- That gives the prolific Chinese mobile app developer a valuation of $552M, or perhaps ~10x 2013 sales (given the company's recent sales growth).
- F-1, IPO preview, more details
Chinese app developer Sungy Mobile posts strong IPO
Nov 22 2013, 11:47 ET