CNinsure, a leading Chinese insurance agency and brokerage firm, priced its offering of roughly 11.76 million ADS at $16, a 33% premium to its originally proposed range of $11-$13 and above its recently upped range of $13-$15. We attribute investor's strong appetite for the deal to CNinsure's high margin business and its significant growth opportunities in a fast-growing market. Morgan Stanley lead managed the offering, and the stock is expected to commence trading on the Nasdaq under the ticker symbol "CISG" on Wednesday.
