Recent Chinese IPOs in NYSE and Nasdaq

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From the bbs at world famous mit. Thanks to Author: capcase (gotmail). I’m putting my comments at the end.

Here is the original article in Chinese, the original title is “china IPO stocks”. For English, has a nice table which tracks Chinese ADRs YTD performance. So check out from there.

下面是一个简单的表格,列出了2006年12月20日至今在美国上市的中国企业的名单和大致情况。更详细的情况无法在这里列出,有兴趣的读者可以查询Bloomberg, Yahoo! Finance和China Analyst,即可得到比较详细的英文资料。

橡果国际(ATV), NYSE上市,融资1.19亿美元,IPO总回报9.5%,主承销商为美林、德意志银行;

中国医疗收购公司(CHM),AMEX上市,融资5100万美元,IPO总回报-6.67%,主承销商为Ferris Baker Watts;



晶澳太阳能(JASO),NASDAQ上市,融资2.25亿美元,IPO总回报178.3%,主承销商为CIBC, Piper Jaffray;


赛维LDK(LDK), NYSE上市,融资4.7亿美元,IPO总回报142%,主承销商为摩根士丹利、瑞银;

完美世界(PWRD),NASDAQ上市,融资1.89亿美元, IPO总回报73.7%,主承销商为摩根士丹利、瑞士信贷;



林洋新能源(SOLF),NASDAQ上市,融资 1.5亿美元,IPO总回报-14.4%,主承销商为高盛;






天威英利 (YGE),NYSE上市,融资3.19亿美元,IPO总回报93.7%,主承销商为高盛、瑞银。

My take on these IPO stocks: first I have to admit that during this period I have not followed the Chinese IPOs listed in the US market very closely. There are lots of solar stocks. But I don’t like them because they are mostly low cost manufacturers, and they enjoy a boom mostly created by the solar-ennergy policy in the Europe. Other companies I know a thing or two.

ATV: their revenue is mostly from selling domestic brand cell phones in TV. I don’t see much potential there.

EJ: the largest real estate broker in China, it gets most of its revenue from new home marketing. Its client include Vanke, the best and No. 1 real estate developer in China. I may have under-estimate it in my previous posts.

QXM: the cell phone arm of Qiao Xing (XING), I don’t see much upside for domestic cell phone makers. Nokia and Samsung are the king and queen here.

WX: I like its business model (outsourcing). However, we should keep an eye on the competition.

XFML: I really don’t want to spend any time on it 🙂

The trend of Chinese IPOs: last year the goverment tightened the rules for companies to seek oversea IPOs. Also considering the recent boom of A share and H share market, more and more companies are trying to list Shanghai/Shenzhen, or Hongkong. Alibaba is latest example. But US exchanges NYSE and Nasdaq are not just waiting, especially NYSE.

From company side, I think some companies (EDU, MR) made the right choice to list in NYSE a year ago: not simply from the raise of capital; it also raised the company profile quite a bit in the market.

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