Chinese firms keen on US listing
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Last year, a total of 42 Chinese companies went listing on the US stock market. |
More Chinese companies are planning to raise funds on the US stock market.
Foreign media outlets reported over the weekend that the Chinese social networking website Renren.com plans to list in US in the first half of this year, according to the Economic Information. The initial public offering (IPO) is expected to raise $500 million and will be underwritten by Morgan Stanley, Deutsche Bank and Credit Suisse.
P2P online video service provider PPStream and Security software maker Qihoo 360 are also reportedly preparing for a US listing in the first half of 2011. PPStream will raise $200-300 million and has chosen Merrill Lynch and UBS as its lead underwriters, while Qihoo 360 has selected Citibank and UBS as its underwriters.
So far, four companies- BCD Semiconductor Manufacturing, Zuoan Fashion, CD Media and Truckbow International- have listed in the US this year. Another two Chinese firms, China For-Gen Corporation and China SLP Filtration Technologies, have submitted necessary documents concerning IPOs to the US Securities and Exchange Commission.
Last year, 42 Chinese companies were listed on the US stock market.
China's business press carried the story above on Monday. China.org.cn has not checked the stories and does not vouch for their accuracy.
