Chinese E-Retailer Surges 15% On First Day Of Trading

Shares of Chinese e-commerce retailer opened for trade on the Nasdaq at $US21.75, above its initial $US19 pricing.’s IPO comes amid a tough day for some other Chinese internet stocks.’s debut is in focus as investors gauge the market for tech IPOs.

Earlier this month, Union Square Ventures founder Fred Wilson said the IPO market for multi-billion dollar tech companies may be disappearing. Last week, software company Zendesk (ZEN) debuted on the NYSE, and the company has seen shares rally since their debut.

Tech investors are also preparing for the public debut of Chinese e-commerce giant Alibaba, which filed for its IPO earlier this month.

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