came to the US (NYSE) today.
One is VanceInfo, which I mentioned earlier in an earlier post. Quote myself:
“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.”
Another one is the first real estate developer (home builder, the one scared many people recently) listed in the US, Xinyuan Real Estate Co., based in Zhengzhou (Henan) China. Prospectus here. This one (NYSE:XIN) “The Company’s network covers more than 34 million people in five strategically selected Tier II cities, including Chengdu, Hefei, Jinan, Suzhou and Zhengzhou…”. One reason for the US listing is Chinese regutory is very tight on the listing of real estate developers, being afraid of the repeat of housing bubble seen in Japan, Hongkong and most recently the US.
Here is a link to a Xinyuan community in Zhengzhou (via Soufun). And Chinese intro: 鑫苑（中国）置业有限公司，成立于1997年，是一家专注于大型复合社区开发，拥有10余家分子公司的专业房地产企业集团。过去的十年，年均销售复合增长率86％，客户满意度近100％。公司已在郑州、苏州、成都、合肥、济南等地拥有房地产开发项目，目前在建面积超过200万平方。2006、2007年连续两年入选中国房地产百强企业，2007年跻身中国中西部房地产公司品牌价值TOP10。