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June 14, 2000

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rediff.com closes at $19.31 on the NASDAQ

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The rediff.com stock closed at 19.31 per ADR after touching a high of $ 23.5. More than 1.45 million ADRs were traded.

The rediff.com India stock opened at $ 21 per ADR and was quoting at $ 23 at 20.30 hours (IST). The ADR has touched a low of $ 20 earlier.

Earlier reports said that Rediff.com India Limited, a leading India-related Internet portal, raised $ 55.2 million when it sold 4.6 million American Depository Shares, or ADS, in an initial public offering on Wednesday.

The ADS represented 2.3 million equity shares. The ADS priced at $ 12 each through lead underwriter Goldman Sachs, at the top of the expected price range of $ 10 to $ 12.

rediff.com, which was launched four years ago, provides news and chats on topics ranging from cricket to finance.

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