VisionChina Media opens flat, then rises in debut

NEW YORK, Dec 6 (Reuters) - Shares of VisionChina Media Inc (VISN.O: Quote, Profile, Research), a Chinese provider of digital advertising on public transportation, opened flat in their stock market debut on Thursday, then rose, after an initial public offering that priced below expectations.

The American Depositary Shares opened on Nasdaq at their IPO price of $8, rose as high as $8.40, then fell back to $8.24.

VisionChina's offering of 13.5 million ADS raised $108 million. It had been forecast to price in a range of $9.50 to $11.50.

Underwriters, led by Credit Suisse and Merrill Lynch & Co, have an option to purchase an additional 2 million ADS to cover overallotments. (Reporting by Lilla Zuill; editing by John Wallace)