99 Wuxian debuts 37.5% higher

The Hong-Kong based company surged at open with investors keen to expose their portfolio to the Chinese mobile market.

Hong Kong-based 99 Wuxian (NNW) has debuted 37.5% higher on the Australian Securities Exchange as investors jump in on exposure to the rapidly growing mobile commerce market in China.

The stock opened at 55 cents – well above the 40 cents initial public offering (IPO) price – before sliding to 50 cents by 1240 AEST, putting the market capitalisation of the company at around $512 million.

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