IPO: Alibaba a positive sign for other companies
Ethridge said there will be between 15 and 20 companies listed on the NYSE this year, mainly in the health, high-technology and retail sectors. As of November 30, 2013, there were 74 Chinese companies listed on the NYSE and nine on a smaller subsidiary exchange established specifically for small-cap companies. These companies’ total market capitalization stood at $1.04 trillion on that date.
China, Canada and Israel are three major foreign countries on the Nasdaq among its 2,500 listings, said Andrew Hall, managing director of new listings at the NASDAQ OMX Group in New York, earlier this year.
IPOs include job-seeking website Zhaopin.com on the Nasdaq and Jumei.com, China’s largest online beauty products retailer, on the NYSE.
Schuster said the much anticipated Alibaba IPO in the US will be a positive sign for other Chinese firms considering going public in the US market.
“It will open the door for many other Chinese IPOs going forward, assuming that pricing and performance will be in line what the market is expecting,” he said.