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Kingsoft surges
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KINGSOFT Office Software Co, a Chinese software developer with over three decades of tech experience, jumped 175 percent yesterday, its first trading day on Shanghai’s SSE STAR Market. Shares of the Zhuhai-based company closed at 126.35 yuan (US$18.05), after reaching an intra-day high over 140 yuan. In total, the company raised 4.5 billion yuan through an initial public offering, with shares priced at 45.86 yuan. “Kingsoft’s WPS platform has walked a long road over 31 years. It’s a company filled with dreams and responsibilities,” said Lei Jun, CEO of Xiaomi and a shareholder of Kingsoft.
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