Raise a Glass to China New Borun
July 30, 2010 by Seeking Alpha
Filed under Investment Ideas
Original Article from Seeking Alpha Long Investment
By Dan France
They say timing is everything and China New Borun Corp (BORN) probably couldn’t have had worse timing for its recent IPO. The offering was completed during a period of market volatility and an environment in which planned IPOs were being postponed or withdrawn altogether. As of June half of the IPOs completed YTD were priced below expectations and BORN was no exception. BORN was initially expected to price in the $12-$14 range during the week of June 7. By mid-week the scaled down price range was $8-$9 and it finally priced on June 11 at $7. The shares sold off following the offering before recently
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