In a 13G filing out over the past few minutes with the Securities and Exchange Commission, Fidelity has disclosed an 17.6% stake in E-Commerce China Dangdang Inc. (DANG), China’s largest online book retailer.
Dangdang went public in the US last month with a listing on Nasdaq and carrying a $1 billion valuation.
DANG opened this morning at $27.47. So far today the stock has hit a low of $26.69 and a high of $27.50. As of 1:45 pm est, DANG is trading at $29.23 up $1.52 (5.49%).