Home Inns and Longtop

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Home Inns (HMIN) is raising fund through convertible bond (up to) $149 m (reuters news). It seems they still need the cash to expand.

Longtop got more analyst converge: Deutsche bank and Jefferies initiated with Buy with target price of $30 and $29, respectively. Quoted here:

Deutsche Bank initiates coverage on Longtop Financial Technologies (NYSE: LFT) with a Buy rating, setting a $30 price target, citing a great position within its quickly growing industry, unique barriers to entry and impressive operating results…

Jefferies initiated Longtop Financial (NYSE:LFT) with a Buy rating and $29 target, as they expect strong earnings growth over the next several years from an acceleration in P&L performance and the company’s attractive secular demand backdrop.

home inns map pic
(image from thestockmasters.com)

Also, I noticed the first Chinese software outsourcing company, VanceInfo, is going IPO in NYSE. Here is the prospectus. One word of caution: from my own experience, the Dec IPO ususally is not going to be a strong as the investment bankers try to make their bonus. So be careful.

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