Overall 16 Chinese Internet companies launched IPOs last year, up from only 7 cases in 2012, according to report released today by Chinese startup database ITjuzi.
According to the report, U.S. stock market is still the top option for Chinese Internet companies to go public, despite some foreign financial research institutions are bearish on their prospects. Altogether seven Chinese Internet enterprises got listed on the U.S. market, four for NYSE and three for NASDAQ.
On the other hand, Hong Kong stock market gained more attractions for domestic firms. Five companies got listed on HKEx during 2013, while four of them are gaming companies.
Game developer Youzu and visual content provider Visual China Group managed to go public on Chinese stock market via backdoor listing, as Chinese regulators suspended IPO application since the second half of 2012.
Most of the IPOs occurred in the second half of 2013, around October to December.
The share price of LightInTheBox (-27.5%), Forgame, and Qunar slumped as of Dec. 31, 2013 as compared with their listing prices. Ten newly listed companies recorded rising share prices, led by 58.com which surged 82.57%.
Fourteen out of the sixteen companies have once received venture capital, strategic investments or angel investments. The biggest winner of this year is IDG, which venture backed four listing companies, namely, Sungy Mobile, 500.com, IGG, and Binary Sale Technology. Sequoia Capital and GSR Ventures each venture backed two companies. Cai Wensheng, a legendary figure in China’s tech industry, is the angel investor of 58.com and Autohome.
Internet Companies Launched IPO in 2013 (Data source: ITjuzi)
Please read the Chinese report here.
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