Much of the world is fixated on the upcoming IPO of e-commerce giant Alibaba in New York, but a far smaller new listing plan by mobile game developer Feiyu Technology is shining a low-key spotlight on a recent jump for such listings in Hong Kong. Many have said that Hong Kong should be the most attractive offshore listing ground for Chinese venture-backed IPOs, since the former British colony is closer geographically and culturally than the currently favored site of New York. But strict listing rules on profitability and ownership structure have kept most Chinese venture-backed tech firms looking to New York instead. Read Full Post…
Big privatization deals are never easy, as we’re seeing with signs that a buyout plan launched by the controlling shareholder of online game firm Shanda Games (Nasdaq: GAME) is rapidly unraveling. Shanda Games’ parent, Shanda Interactive, launched the plan back in January, as part of a broader wave of similar privatizations for undervalued US-listed Chinese companies. Shanda Interactive is saying the buyout is still alive, though other shareholders are clearly growing skeptical, based on Shanda Games latest stock price. Read Full Post…
The following press releases and media reports about Chinese companies were carried on May 20. To view a full article or story, click on the link next to the headline.
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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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The following press releases and media reports about Chinese companies were carried on March 22-24. To view a full article or story, click on the link next to the headline.
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EU, China End Wine Dispute Ahead Of Xi’s European Tour (English article)
I’ll start this post with a major disclaimer, since one of my main reasons is simple sentimentality for writing about the newly announced buyout of New York-listed hospital operator Chindex (Nasdaq: CHDX) by a unit of the aggressive Fosun Group. When I first arrived in Beijing in 1987 as recent college graduate, I worked briefly in Chindex’s Beijing offices, which at the time were in the old Xiyuan hotel near the Beijing zoo. Since then, the company has transformed from its early days as an importer of medical and industrial equipment to its current focus on building and operating hospitals and clinics. Along the way it also made an IPO, and has quietly grown into a company with a market value of nearly $300 million. Read Full Post…
One of China’s biggest online entertainment companies is rapidly disappearing from the publicly listed realm, with word that Shanda Games (Nasdaq: GAME) has become the latest US-listed Chinese firm to receive a management-led buyout offer. The news came as a surprise to me, since many believed that Shanda’s parent, Shanda Interactive, wanted to follow a strategy of listing its various units individually after it made its own privatization 2 years ago. But from another angle, this de-listing plan isn’t all that unexpected since Shanda Games’ shares have languished since they were first listed in 2009. Read Full Post…
The following press releases and media reports about Chinese companies were carried on January 28. To view a full article or story, click on the link next to the headline.
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Shanda Games (Nasdaq: SNDA) Announces Receipt Privatization Offer (PRNewswire)
Tencent (HKEx: 700) WeChat Pushes into US, Promotes Linking to Google (English article)
LightInTheBox (NYSE: LITB) Announces Resignation Of CFO (Businesswire)
TAL Education (NYSE: XRS) Makes Strategic Investment In Babytree (PRNewswire)
Suntech (NYSE: STP) Announces New Acting CFO And Board Member (PRNewswire)
Investors are taking a decidedly negative view on the latest news from web portal Sohu (Nasdaq: SOHU) and game operator Shanda Games (Nasdaq: GAME), in a wave of buyer fatigue following recent rallies for these 2 Internet companies. Shares of both companies lost 10 percent or more in the latest trading day in New York, after Sohu released a very solid set of financial results and Shanda announced an acquisition that should help to boost its struggling core game business. In all fairness, both companies’ shares have rallied sharply this year for different reasons, so some might view this sell-off as a classic case of the “buy on the rumor, sell on the news” mentality. As such, the setback may be a one-time correction, and different factors will determine whether the companies resume their rallies in the weeks ahead.
The following press releases and media reports about Chinese companies were carried on July 30. To view a full article or story, click on the link next to the headline.
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China Agrees To Talks On French Wine Dispute, EU Says (English article)
Alibaba In Late-Stage Talks To Buy PPTV Stake – Source (Chinese article)
The following press releases and media reports about Chinese companies were carried on May 23. To view a full article or story, click on the link next to the headline.
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GalaxySecurities (HKEx: 6881) Soars 11 Pct In Debut After $1.1 Bln HK IPO (English article)
Sovereign Funds, China Construction Bank (HKEx: 939) Buy Into Russia’s VTB (English article)
Qihoo 360 (NYSE: QIHU) Partners with Etao to Introduce Shopping Search (English article)
Shanda Games (Nasdaq: GAME) Reports Q1 Unaudited Results (PRNewswire)
Pactera (Nasdaq: PACT) Board Forms Privatization Plan Review Committee (PRNewswire)
