The following press releases and media reports about Chinese companies were carried on August 11. To view a full article or story, click on the link next to the headline.
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Alibaba (NYSE: BABA) to Invest $4.6 Bln in Retailer Suning (Shenzhen: 002024) (English article)
Bank of Communications (HKEx: 3328) Said to Let HSBC Name Vice Chmn (English article)
Bottom line: A booming China stock market and IPO reforms could fuel a new wave of re-listings by Chinese tech and media firms that were formerly traded in New York, led by an upcoming backdoor listing by Focus Media.
Xueda gets buyout offer
A pair of stories in the headlines today are highlighting a nascent movement that could see a growing number of US-listed Chinese firms take down their shingle in New York to return to stock markets closer to home. No companies have made such a move yet, but advertising specialist Focus Media could soon become the first with word that it’s moving closer to making a backdoor listing in China after leaving New York in 2013.
Meantime in a related piece of news Xueda Education (NYSE: XUE) said it has received a buy-out offer from Chinese financial firm Insight Investment (Shenzhen: 000526). Such a move would continue a trend that has seen a growing number of neglected US-listed Chinese firms abandon New York, where their shares have stagnated over the last few years. Read Full Post…
The following press releases and media reports about Chinese companies were carried on April 22. To view a full article or story, click on the link next to the headline.
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Yum (NYSE: YUM) CEO Says China Business Mending, Sees Strong Year-End (English article)
ICBC (HKEx: 1398) To Provide $4.3 Bln In Financing For Pakistan Power Projects (English article)
Forbes Releases Wealthiest Chinese List, Internet “Big 3” BAT Chiefs In Top 10 (Chinese article)
