Signs of weakening sentiment haven’t stopped the flood of Chinese tech firms lining up for new listings in New York, and now we can add mobile game maker Chukong Technologies to the list of new IPO candidates. If anything, recent signs of weakening sentiment may make companies that have already done much of the preparatory work for IPOs accelerate their plans, meaning we could see quite a few new listing applications in May. That’s what Chukong is planning, according to media reports saying the firm has made its first non-public filing for an IPO with the US securities regulator. (Chinese article) Read Full Post…
A major catalyst is clearly needed to thaw the current frigid market for US-listed Chinese stakes, but unfortunately the newly listed China Mobile Games (Nasdaq: CMGE) was not what investors were seeking. Meantime in other Internet news, video sharing leader Youku Tudou’s (Nasdaq: YOKU) first major strategy announcement since closing its historic merger a month ago has also failed to inspire investors, who are already running out of patience with the company.
