In a sign of very strong demand, Longtop Financial Technologies, a leading provider of IT software solutions to the financial services industry in China, priced its IPO of 10.4 million ADSs at $17.50 per ADS, nearly 17% above the mid point of its upwardly revised $14-$16 range. The company originally filed with an offering range of $12-$14. At its $17.50 offer price, Longtop has a market capitalization of roughly $938 million. Goldman Sachs and Deutsche Bank acted as joint bookrunners on the deal. The stock is expected to open for trading on Wednesday morning under the symbol "LFT" on the NYSE.
