china-acorns-us-ipo-receives-massive-attention

China Acorn's US IPO receives massive attention

The Chinese consumption story attracts investors to Acorn's US listing. Another IPO for Qiao Xing Mobile also garners interest but is met with more scepticism.

Anette Jönsson

May 04, 2007

The New York Stock Exchange saw two new Chinese companies list last night and, for most of their first day on the board, the stocks traded above their issue prices. Coming on the heels of another successful Chinese listing two weeks ago, this could suggest that the caution among US investors towards Mainland companies that has been prevalent since the sharp correction in late February may finally be over.

Both companies offered direct exposure to ChinaÆs fast-growing retail sector, which may have helped convince investors to commit. However, the outcome for the two stocks differed quite substantially and if it was short-term gains they were after, investors who placed their bets with TV sales company...

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