Two Chinese IPOs Soar In Market Debuts
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TechWeb - VanceInfo Technologies, an IT services and software development provider, rose 17% to close at $9.96 per American Depositary Share.
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Shares of China Merchants Bank surge as much as 30% on its first day of trading in Hong Kong.
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NEW YORK (CBS.MW) -- Xinhua Finance Limited filed a $30.5 million initial public offering Thursday in Tokyo as the China-based financial services and media firm marks a rare foray into Japan.
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Toyota and Ford, two of the world's three largest auto makers, reported strong first-half sales in China's fast-growing market, where as relative newcomers they are competing to roll out new models to attract customers.
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Chinese online trading firm, Alibaba.com, was Monday set to give retail investors details of its Hong Kong listing, in what is expected to be the largest Internet IPO ever by a mainland firm.
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SINGAPORE (Dow Jones)--The following is a list of initial public offerings (IPOs) set for northeast Asia, including Japan, Hong Kong, Taiwan, China and South Korea.
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Chinese e-commerce company Alibaba.com is making final preparations for an initial public offering of shares on the Hong Kong stock exchange, set for Nov. 6. But most of the proceeds will go to existing shareholders rather than into the company&#39;s coffers to fund future acquisitions and other plans.Alibaba&#39;s prospectus said the listing price would be set within a range between HK$12 (US$1.55) to HK$13.50 per share. While the final pricing has not yet been announced, Dow Jones Newswires reported that the listing price had been set at the very top of that range.Nearly 859 million shares -- accounting for 17 percent of Alibaba&#39;s shares -- will be offered during the IPO, including 227 million shares owned by the company. The balance of the shares on offer are held by existing shareholders.&#160;The IPO&#160;attracted US$150 billion in orders from institutional investors and HK$453 billion in orders from individuals, making it &quot;the biggest offering in Hong Kong&#39;s IPO history,&quot; according to the Dow Jones report.Out of the HK$11.6 billion expected to be raised during the IPO about HK$3 billion (US$387 million) will go to Alibaba, which plans to use most of the money for acquisitions and to develop new technologies.Alibaba is one of China&#39;s oldest and most successful Internet companies, running a business-to-business trading portal under the Alibaba.com name, an online payment service, and China&#39;s most popular auction site, called Taobao.com. But while other Chinese Internet companies cashed in on investor enthusiasm for Internet stocks and China&#39;s growing market with listings in Hong Kong and New York, Alibaba -- which generated 73 percent of its revenue from outside China during the first half of 2007 -- remained privately held.A 2005 deal with Yahoo took some pressure off Alibaba to go public.&#160;Yahoo invested US$1 billion in Alibaba&#160;in return for a 40 percent stake in the company, and transferred control of its Chinese operations to Alibaba. Approximately $750 million of the proceeds from that deal went to shareholders, allowing early investors in the company to take a return on their investments.Yahoo&#39;s investment in Alibaba will likely increase, with the company expected to invest a further US$100 million through the IPO.&#160;
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New listings on the Shanghai and Shenzen bourses could raise $52 billion this year. But can the rush last?
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After the recent tumult in the Chinese market, some rapidly growing companies look even more attractive.
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TAIPEI/HONG KONG  - Chinese online game developer Giant Interactive Group Inc was set to begin marketing a U.S. initial public offering on Thursday worth roughly $700-$800 million, sources familiar with the deal said, joining a record-breaking capital-raising push by Internet firms.
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The shares of Chinese telecoms companies listed in Hong Kong surged yesterday on what the industry's regulator and a government researcher called speculative reports about the long-awaited introduction of 3G mobile services.
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AIR CHINA will become the first new Chinese company in four years to trade on the London Stock Exchange today, in what exchange officials hope will be the beginning of a wave of listings from Hong Kong.
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Chinese companies are starting to pursue North American and European electronics and consumer brands as their government pushes them to build global sales forces for their low-cost products.
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Investing: Taming China's Dragon Market
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The world&#39;s biggest arbitrage opportunity lies tantalisingly out of reach. Courtesy of the frenzy in Shanghai&#39;s stock exchange, the shares of companies with dual Hong Kong and mainland listings trade at totally differently prices. Among the top 10 dual-listed stocks by market capitalisation, domestic shares trade at an average 43 per cent premium. The arbitrage opportunity is enormous. Were the top 10 Chinese shares to fall to Hong Kong prices, $192bn of market capitalisation would be lost. Were Hong Kong shares to trade up to Chinese prices, market cap would rise by $75bn.
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In a debut vaguely reminiscent of the dot-com boom, shares of Internet search giant Google Inc. surged in their first day of public trading Thursday as investors who avoided the company's auction-based offering readily jumped into the familiar territory of the stock market.
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Shares of DreamWorks Animation SKG Inc. jumped in their market debut on Thursday after the animated film maker's initial public offering raised a higher-than-expected &#36;812 million.