Renren IPO Raises $743 Mln, Stock Surges by Nearly 29%--UPDATED
The Renren IPO, which raised $743 million earlier today, began trading today. Shares of Renren opened on the NYSE under the ticker "RENN." The stock surged by $5.53 or 39.50% to $19.53 in morning trading. Volume was roughly 38 million shares. Beijing-based Renren is the first social networking site to go public in the U.S. (Facebook has long been rumored but the company has yet to file).
4 May 2011•1 min read
