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A history in one-day IPO bumps

LinkedIn should not get carried away with joining the exclusive club of companies whose share prices doubled on their first day of trading, according to data compiled for Financial News

LinkedIn yesterday joined a small club of just 29 companies since 1998 to more than double their share price on their opening day of life as a public company. However, history suggests that such early fortune does not equal successful longer-term performance.

Having priced its shares at $45 in the flotation, LinkedIn's shares closed at $94.25 on its opening day, valuing the company at $8.9bn.

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