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Yintech Falls Flat in U.S. Debut as Chinese Peers Seek Delisting

  • Trading firm sells shares amid record wave of delisting offers
  • China commodity rules are `relatively clear' in 2016, CEO Says

Yintech Investment Holdings Ltd., China’s largest online provider of spot commodity trading services, closed unchanged on its first trading day after raising $101 million in an initial public offering.

The American depositary receipts of Yintech ended at $13.50 in New York on Wednesday after the company sold 7.5 million shares at that price. Chinese companies have risen 21 percent on average on the first trading day in the U.S. in the past three years, according to data compiled by Bloomberg on firms with a market capitalization larger than $50 million. The IPO contrasts with a record wave of Chinese companies seeking to delist from U.S. exchanges.