Beijing-based NetQin Mobile Inc.’s (NQ) stock is down almost 22% after its Thursday debut on the New York Stock Exchange.
The mobile security provider’s stock hit a low of $8.30 after an initial public offering price of $11.50, however stock is now hovering around $9.05 in its second day of trading.
The company, which was founded in 2005 and now counts more than 43 million users in 200 countries, is projected to have raised $89.1 million through the offering, according to The Associated Press.
NetQin stock tanks in public trading debut on NYSE
ABOUT AUTHOR
