切换至摄影模板
博文
YY Inc,是2012年的第三家在美国的IPO 上市公司
热度 1 |||
YY, first Chinese U.S. IPO in 7 months; only 3 IPOs in 2012NEW YORK—Chinese social-media platform YY Inc. this week may become the first Chinese company to debut in the U.S. in seven months, as the market for initial public offerings struggles to right itself.
Given the market's shakiness, the an offering of up to $97.5 million from YY, a company that boasts more than 400 million registered users on its online platform, is liable to face keen investor scrutiny.
This year is shaping up to be the slowest for IPOs from Chinese companies since 2008, according to data from Ipreo, a market-intelligence firm. Just two China-based IPOs have hit the U.S. market this year: e-retailer Vipshop Holdings Ltd., VIPS -4.76%in March, and Acquity Group Ltd., AQ -6.10%a provider of digital marketing and e-commerce services, in April. Four Chinese IPOs have been delayed or withdrawn this year, exceeding the total that have made it to market in the U.S.
IPOs from Chinese firms were commonplace a few years ago. As recently as 2010, some 36 Chinese IPOs were listed in the U.S., representing nearly a quarter of all new offers that year.
The flow dried up after a handful of companies were hit by accounting scandals that curbed investor demand for Chinese listings. The incidents raised corporate-governance questions about Chinese companies and triggered heavy selling in their shares.
The average China-based IPO, since 2010, in the U.S. has slumped 40% from its offer price, according to analysis of Ipreo's data. These deals "totally destroyed the interest of institutional investors in Chinese IPOs," said Josef Schuster, president of IPOX Schuster, an IPO research-and-investment firm.
But so far, the year's two Chinese IPOs have stayed above water. Vipshop shares have nearly doubled, while Acquity is up more than 10%.
In particular, Vipshop has "delivered its earnings estimates, priced reasonably and has substantially outperformed," Mr. Schuster said. "It's traded very differently than other IPOs in the past."
YY will look to follow suit. The company's free online platform draws in users who participate in karaoke and tutoring through audio, text and video services. It makes money through advertising and by selling virtual items.
In 2011, YY's total revenue rose to 319.6 million Chinese yuan ($50.8 million), more than doubling the 2010 total. The company has never booked a profit for a full year. but recorded net income of 55.9 million yuan in the first nine months of this year, according to the filing.
Its American depositary shares are expected to list Wednesday on the Nasdaq Stock Market under the ticker "YY."
(DOW JONES) -- UNSUBSCRIBE BY REPLY EMAIL REQUEST, PLEASE.
Given the market's shakiness, the an offering of up to $97.5 million from YY, a company that boasts more than 400 million registered users on its online platform, is liable to face keen investor scrutiny.
This year is shaping up to be the slowest for IPOs from Chinese companies since 2008, according to data from Ipreo, a market-intelligence firm. Just two China-based IPOs have hit the U.S. market this year: e-retailer Vipshop Holdings Ltd., VIPS -4.76%in March, and Acquity Group Ltd., AQ -6.10%a provider of digital marketing and e-commerce services, in April. Four Chinese IPOs have been delayed or withdrawn this year, exceeding the total that have made it to market in the U.S.
IPOs from Chinese firms were commonplace a few years ago. As recently as 2010, some 36 Chinese IPOs were listed in the U.S., representing nearly a quarter of all new offers that year.
The flow dried up after a handful of companies were hit by accounting scandals that curbed investor demand for Chinese listings. The incidents raised corporate-governance questions about Chinese companies and triggered heavy selling in their shares.
The average China-based IPO, since 2010, in the U.S. has slumped 40% from its offer price, according to analysis of Ipreo's data. These deals "totally destroyed the interest of institutional investors in Chinese IPOs," said Josef Schuster, president of IPOX Schuster, an IPO research-and-investment firm.
But so far, the year's two Chinese IPOs have stayed above water. Vipshop shares have nearly doubled, while Acquity is up more than 10%.
In particular, Vipshop has "delivered its earnings estimates, priced reasonably and has substantially outperformed," Mr. Schuster said. "It's traded very differently than other IPOs in the past."
YY will look to follow suit. The company's free online platform draws in users who participate in karaoke and tutoring through audio, text and video services. It makes money through advertising and by selling virtual items.
In 2011, YY's total revenue rose to 319.6 million Chinese yuan ($50.8 million), more than doubling the 2010 total. The company has never booked a profit for a full year. but recorded net income of 55.9 million yuan in the first nine months of this year, according to the filing.
Its American depositary shares are expected to list Wednesday on the Nasdaq Stock Market under the ticker "YY."
(DOW JONES) -- UNSUBSCRIBE BY REPLY EMAIL REQUEST, PLEASE.
免责声明：本文中使用的图片均由博主自行发布，与本网无关，如有侵权，请联系博主进行删除。
