Everyone shares a record low for the first time below the IPO price

On the evening of May 10, Nyse:renn's share price hit a record low of $13.87 trillion today and has fallen below the 14-dollar IPO at the NYSE's initial public offering on May 4.　　As at 21:54, the company's shares reported 14.05 U.S. dollars, a decrease of 4.75%. The price of a record low for everyone company by the three web site Renren (renren.com), everyone games (Game.renren.com) and glutinous rice Network (nuomi.com) packaged, May 4 at 14 U.S. dollars in the IPO issue of 53.1 million shares in the United States Depository shares (ADS)　　, financing scale of 740 million U.S. dollars, after Alibaba and Shanda games, the Chinese Internet company IPO financing scale third. Renren's initial price was $9 per share, $11 trillion, $540 million trillion in financing, then raised the scale of IPO financing, raising the price range to $12 to 14 dollars, raising the scale to $740 million.　　This makes Renren's financing scale about 30% higher than previously.　　However, at the end of the IPO pricing, the company has repeatedly postponed until the listing one hours before the final confirmation of the price is 14 U.S. dollars, the issue of the upper limit of the range. On the first day of the IPO, everyone's shares were sought after by investors, with an opening price of 19.50 U.S. dollars up 39.28%, after a plate of shocks sorted out, everyone's share price closed at 18.01 U.S. dollars, higher than the issue price of 28.64%,　　The market value of 7.07 billion U.S. dollars, ranked among the top four Chinese internet listed companies, some media even "internet upstart" to describe.　　In the second trading day, seven IPO underwriters, including Morgan Stanley, Deutsche Bank, Credit Suisse and BofA Merrill Lynch, announced an additional 7.965 million shares of ads from Renren at $14 per share IPO prices, raising the IPO financing to $850 million.　　However, the share price did not continue on the first day of the first time, fell nearly 13% in the morning, the plate was pulled down to 15.56 U.S. dollars, but then gradually rebounded, eventually closed to 16.87 U.S. dollars, a decline of 6.33%. In the following trading days, the company's stock price continued to walk out of the Yin line, opened low.　　Today it hit a record low of $13.87 trillion, down 33.63% from its 20.9 dollar record on the first day of the IPO, down nearly one-third per cent in market capitalisation. Chen said that profitability and potential will be reflected in the long term for everyone CEO Chen after the listing and media communication, said not too much concern about the share price, because the company's profitability and potential will be reflected in the long term. "We don't focus on the short term, we focus on the long-term process," he said. Regardless of the stock price, our mentality will be the same. "The preparation process for the listing of all companies is not smooth sailing, not only to amend the monthly average number of independent user visits, but also met the Chairman of the Audit committee Derrick Palaschuk resignation, becauseDerrick Palaschuk involves another company's accounting fraud, fearing that it would have a negative impact on the listing.　　Chen a boat in the Sina Science and technology interview had frankly listed process stumbled, he gave the lesson is that before listing must be done in place, and to properly arrange the situation of personnel. As for whether Chinese Internet companies will be a bubble in listing, Chen that it is now a wave of internet listings, the best of those companies will be a significant development after the listing. Elwyn)