According to MarketWatch Longtop Financial Technologies Ltd. (LFT) initially priced at $17.50, up from the revised range of $14-$16, and up substantially from the earlier reported range of $12-$14. The stock closed today at $32.40, up 85%.

According to the story:

The resulting market activity sent shares of Chinese software maker Longtop Financial Technologies Ltd. (LFT) up 85% Wednesday, the second-best IPO debut of the year, after athenahealth Inc.’s (ATHN) top 97% gain. Meanwhile, Vanguard Natural Resources LLC’s (VNR) stock fell below its IPO price.

On Tuesday, a similar theme played out: Chinese jeweler Fuqi International Inc. (FUQI) rose 16% on its first day of trading, while Kansas petroleum refinery CVR Energy inc. (CVI) gained 7%.

Longtop, based in Xiamen, China, closed at $32.40 a share on the New York Stock Exchange, up from its IPO price of $17.50. It sold 10.4 million American depository shares at a price above its expected range of $14 to $16, which had already been raised by $2 last week.

Based in Xiamen, China, Longtop is a software developer and technology services provider that focuses on financial institutions in that country. It provides technology services and creates both standardized and custom-designed software for banks in China, including three of the four largest state-controlled banks: China Construction Bank, Agricultural Bank of China, and Bank of China.

I am just speechless.  I do have some tulip bulbs and an eCompany’s assets to sell if anyone is interested.

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