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Strategies & Market Trends : Greater China Stocks

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From: tom pope	11/8/2012 9:54:08 PM
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Do you know anything about this one Julius? Thanks NEW YORK--Chinese social-media platform YY Inc. disclosed the terms for its U.S. initial public offering late Wednesday, the first debut in months from a Chinese company. YY said it plans to sell 7.6 million American depositary shares in a price range between $10.50 and $12.50 in a regulatory filing. The IPO, valued at $87.4 million, will list on the Nasdaq Stock Market under the ticker YY. The company boasts more than 400 million registered users who engage in real-time group activities like karaoke and tutoring through audio, text and video. The platform is free, and YY makes money through advertising and by selling virtual items. The number of Chinese IPOs listing on U.S. exchanges surged in 2010, but a handful of those companies were hit by accounting scandals that dried up investor demand for Chinese listings. There were 41 China-based IPOs in 2010, according to Renaissance Capital. This year, there has only been one, retail website Vipshop Holdings (VIPS), which fell more than 30% in its first month but has since recovered. Its shares rose Wednesday in the face of a broad selloff to close at a post-IPO high.<snip>

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