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Autohome CEO James Zhi Qin is all smiles. Autohome, the Chinese auto information website, popped over 75 percent after its initial public offering Wednesday. Investors were eager to profit off booming car sales in China. So shares surged above $30 at points, way up from the $17 offering price. But the biggest winner of the day was Autohomes surprising controlling owner, Telstra.
|Autohome IPO Explodes On Chinese Car-Buying Potential, But Real Winner Is Australian|
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