China’s 500.com Jumps on $124 Million Investment From Tsinghua
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500.com Ltd. surged after the Chinese online sports lottery operator said it got a $124-million investment from Tsinghua Unigroup International Co. through the sale of new shares.
The American depositary receipts rose 7.3 percent to $25.50 on Tuesday in New York to trade near a six-month high reached last week. The ADRs sank to a record $9.23 in February as Chinese regulators suspended Internet-based sports lotteries in some provinces amid a crackdown on unauthorized operations.