Chinese mobile apps store Sky-mobi (MOBI) is -16.6% after pricing its U.S. IPO at $58M, the...

|By:, SA News Editor

Chinese mobile apps store Sky-mobi (MOBI) is -16.6% after pricing its U.S. IPO at $58M, the bottom of the forecast range. Mobi sold 7.25M U.S. depositary receipts for $8 each after offering them for up to $10 each. On the other hand, this week two other Chinese internet companies, Youku.com (YOKU -7.4%) and Dangdang (DANG -3.5%) saw a surge after their IPOs.