Latest China IPO in US soars 85%

(The Wall Street Journal) -- For the second day in a row, US investors were wowed by the initial public offering of a Chinese company and paid less attention to an American energy company.

The resulting market activity sent the initial public offering of Chinese software maker Longtop Financial Technologies up 85% yesterday on the New York Stock Exchange, the second-best initial public offering debut of the year, after Athenahealth's top 97% gain. Meanwhile, the day's other IPO, Vanguard Natural Resources, fell below its IPO price.

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