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Updated Sunday, October 7, 2007 0:00 am TWN, AP

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Investors snap up China Digital shares on debut

NEW YORK -- China Digital TV Holding Co.’s shares spiked 75 percent in their first day of trading on Friday, as investors embraced the company’s initial public offering on the promise of China’s growing digital television market.

The stock closed Friday at US$28, a 75 percent increase over the IPO price of US$16 per share. It traded as high as US$35 — more than double the offering price — early in the session.

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