The big IPO news of the day is Alibaba’s debut public filing for its long-awaited New York listing, but a flurry of other news in the space is continuing the recent stream of downbeat signals from the sputtering market. Leading the headlines are the latest terms for an offering by online cosmetics seller Jumei.com and a debut public filing for online recruitment firm Zhaopin.com, neither of which look too positive. The signals were equally negative from recently listed car information website Autohome (NYSE: ATHM), whose shares dived after it filed a fairly respectable first-quarter earnings report. Read Full Post…
Tag Archives: Jumei
New York IPO Scorecard: Still Some Life
Two weeks after this year’s first Chinese IPO in New York, there’s still a bit of life left in the market despite recent signs of slowing momentum. That’s my quick assessment after looking at the performance of the 4 companies to list so far this year, starting with education services firm Tarena (Nasdaq: TEDU), followed by clinic operator iKang (Nasdaq: KANG) and finally online real estate services firm Leju (NYSE: LEJU) and microblogging giant Weibo (Nasdaq: WB). Meantime, media are reporting that this year’s most highly anticipated IPO from Alibaba is getting delayed, after reports emerged last week that the e-commerce giant could make its first regulatory filing for a New York offering this week. Read Full Post…
Weibo Debut Clouds Outlook For Tech IPOs
Everyone’s buzzing today about the trading debut of Weibo (Nasdaq: WB), following a performance by the Sina (Nasdaq: SINA) microblogging unit that was filled with mixed signals. Potential investors in the company will inevitably have many questions about Weibo’s future, as it seeks to carve out a secure and profitable place for itself in China’s competitive social networking (SNS) space. But from the bigger perspective, this mixed performance is the latest sign that the window of positive sentiment towards Chinese Internet IPOs is closing fast in New York, though it could remain open for perhaps another few weeks.
Mobile Game Maker Chukong Joins IPO Queue
Signs of weakening sentiment haven’t stopped the flood of Chinese tech firms lining up for new listings in New York, and now we can add mobile game maker Chukong Technologies to the list of new IPO candidates. If anything, recent signs of weakening sentiment may make companies that have already done much of the preparatory work for IPOs accelerate their plans, meaning we could see quite a few new listing applications in May. That’s what Chukong is planning, according to media reports saying the firm has made its first non-public filing for an IPO with the US securities regulator. (Chinese article) Read Full Post…
Jumei, Sina Further Dampen IPO Fever
New developments from leading web portal Sina (Nasdaq: SINA) and listing candidate Jumei are providing the latest signals that the heady market for Chinese IPOs in New is rapidly losing steam, potentially derailing many upcoming new offerings. Sina has just announced a massive share buyback to support its crumbling stock, just days before a rapidly weakening IPO for its Weibo microblogging unit that could come as soon as this week. Meantime, online cosmetics seller Jumei has sharply scaled back the size of its original IPO plan, again hinting at rapidly weakening demand for shares of Chinese Internet companies. Read Full Post…
News Digest: April 12-14, 2014
The following press releases and media reports about Chinese companies were carried on April 12-14. To view a full article or story, click on the link next to the headline.
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- Jumei.com Files For New York IPO To Raise Up to $400 Mln (Chinese article)
- Sina (Nasdaq: SINA) Announces up to $500 Mln Share Repurchase Program (PRNewswire)
- AutoNavi (Nasdaq: AMAP) Agrees to Be Acquired by Alibaba (English article)
- Sohu (Nasdaq: SOHU) CEO Zhang Prepares For Change, Eyes Common Netizens (Chinese article)
- Trina Solar (NYSE: TSL) Updates Q1 2014 Guidance (PRNewswire)
- Latest calendar for Q1 earnings reports (Earnings calendar)
IPOs: Legend Eyes HK, Xunlei New York
The recent window of positive sentiment towards Chinese tech firms continues to fuel a wave of offshore IPO plans, with video sharing site Xunlei and Lenovo (HKEx: 992) parent Legend Holdings the latest subjects of new listing rumors. All these reports come as a top New York Stock Exchange executive predicts 15-20 Chinese firms will list in New York this year. (English article) That forecast by David Ethridge, a senior vice president at NYSE Euronext, certainly looks quite bullish, especially compared with only 6 companies that listed in New York last year and just 2 in 2012. But it’s also worth noting the figure is a bit more conservative than another forecast earlier this month from an unnamed investment banking source for as many as 30 New York listings this year. (previous post) Read Full Post…
News Digest: February 14, 2014
The following press releases and media reports about Chinese companies were carried on February 14. To view a full article or story, click on the link next to the headline.
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- China Auto Market Growth Slows Sharply In January (English article)
- Cosmetics Retailer Jumei.com Hires Banks For $600 Mln US IPO (English article)
- China Telecom (HKEx: 728), Unicom (HKEx: 762) Plan Q1 4G Launch – Source (English article)
- Liu Qiangdong To Be Worth 7 Bln Yuan After JD.com IPO (Chinese article)
- Lenovo (HKEx: 992) Projects End to Motorola Losses With China Phone (English article)
- Latest calendar for Q4 earnings reports (Earnings calendar)
