Syswin Inc., a real estate company in China, said Wednesday it price its initial public offering at $7 a share, below its predictable range.
The company is offering 9.6 million American Depository Shares at $7 apiece, for profits of $67.2 million. Beforehand, the company said it would offer the share at a range of $9.25 to $11.25 apiece.
Each ADS represent four commonplace shares.
The companionship gave underwriters a 30-day option to buy up to a additional 1.4 million shares.
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