Picking Chinese Winners

Fitzgibbon Jr., John E.
December 2007
Red Herring;12/1/2007, Vol. 4 Issue 30, p72
Trade Publication
The article explores how bankers priced the initial public offerings of Chinese companies in the U.S. By October 12, 2007, bankers had priced 17 Chinese companies in the U.S., according to U.S. Securities and Exchange Commission filings. Sixteen were winners, one was a loser, and the average gain was 85.8 percent. Of the 24 Chinese companies that had gone public in the U.S. in 2007, 13 were winners and 11 were losers. The average gain was 32.2 percent. Bankers this year priced twice the number of Chinese companies as they did in 2006. Paul Bard, vice president of Renaissance Capital, offers his thoughts on why Chinese initial public offerings have become more popular and offers some guidelines for investing in them.


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