IPO: Alibaba a pos­i­tive sign for other com­pa­nies

China Daily (Canada) - - ACROSSAMER­ICA -

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.

Re­cent

Chi­nese

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.

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