Built on last year’s strong activity with a record of 22 Chinese IPOs in 2010, the NYSE maintains its leading position in attracting Chinese listings this year. Statistics released by NYSE show that, by June 30, there are already 7 Chinese firms went public on NYSE in the first half of the year.
Out of the 7 IPOs, 5 come from the TMT (Technology, Media and Telecommunications) sector, which are Renren Inc(NYSE: RENN), one of the biggest Chinese social networking website, Qihoo 360 Technology (NYSE:QIHU), a computer security products provider, Phoenix New Media(www.ifeng.com, 3g.ifeng.com, v.ifeng.com) (NYSE:FENG), a Chinese new media company, TaoMee Holdings (NYSE:TAOM), one of the largest kids SNS in China, and NetQin Mobile Inc (NYSE:NQ), a mobile internet service provider with mobile security solutions based on cloud-computing. The rest two are commercial wheel maker Zhengxing Wheel Group Co Ltd. and men’s fashion retailer Zuoan Fashion Ltd.
The seven Chinese companies raised a total of $1.333 billion, accounting for 80 percent of all money raised by Chinese listings in the U.S. On Mar.29, shares of Qihoo360 soared 134% in its trading debut, which making it the third best first-day gain for a U.S. listed IPO in the last 10 years. And on May 4, Renren Inc became the first social networking service company to get listed on the U.S. market.
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