www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Technology

Disenchanted Chinese tech companies plot escape from New York

(Agencies) Updated: 2015-06-06 09:57

Disenchanted Chinese tech companies plot escape from New York

Traders work on the floor as they wait for a final price on the Alibaba Group Holding Ltd. initial public offering (IPO) under the ticker "BABA", at the New York Stock Exchange in New York Sept 19, 2014. [Photo/Agencies]

Chinese tech firms have fallen out of love with America, and it shows - a growing number of them are looking to drop their listings in New York and head back home.

Many Chinese tech executives are betting on higher share valuations in China where stock markets have recently caught fire. They also hope to evade any legal mess when Beijing formally outlaws foreign shareholder control of firms in protected tech sectors.

An exodus of Chinese tech firms would spell the end of a profitable line of business for Wall Street underwriters. Last year, the $25 billion IPO of e-commerce giant Alibaba - the world's largest initial public offering ever - generated more than $300 million in fees.

The numbers are hard to resist. China's tech-driven ChiNext composite index has gained nearly 180 percent this year, eclipsing the 30 percent rise in the Nasdaq OMX China Technology Index that tracks offshore listed mainland firms.

Firms listed on the Nasdaq index get an average share price equal to 11 times their earnings. On ChiNext, they get 133 times. There's a debate over which ratio is more accurate, but Chinese executives blame US ignorance of China.

"American investors don't understand the business model of Chinese gaming companies," said a senior executive of one such firm planning to eject from New York and move back to a Chinese listing, speaking on condition of anonymity.

Earlier this year, New York-listed Chinese gaming firms Shanda and Perfect World said they would go private, while online dating service Jianyuan.com and medical R&D services provider Wuxi Pharmatech said they are thinking about it.

Analysts expect dozens of lesser-known companies to follow if they can, and they see the pipeline of Chinese companies trying to list in New York drying up.

"The possibility of stirring interest among US investors is slim," said Shu Yi, CEO of Beijing-based advertising technology company Limei Technology, which recently gave up on plans to list in New York and now is hoping to IPO in Shanghai or Shenzhen.

On Thursday, Chinese Premier Li Keqiang encouraged more of such companies to return, particularly those with "special ownership structures," referring to the contractual loopholes employed by many Chinese firms to evade restrictions on foreign ownership.

China is lining up the finances to assist the repatriation. Investment bank China Renaissance has teamed up with Citic Securities to raise funds to help delist and underwrite new listings in China, while Shengjing Management Consulting has launched a fund-of-funds that intends to repatriate about 100 Chinese firms.

Previous Page 1 2 Next Page

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 毛片免费永久不卡视频观看 | 亚洲国产成人综合 | 欧美高清视频手机在在线 | 草在线视频 | 男人扒开双腿女人爽视频免费 | 国产乱码一区二区三区四川人 | 国产国产成人人免费影院 | 黄色毛片免费看 | 亚洲最黄视频 | 久久久久免费视频 | 中文字幕亚洲日本岛国片 | 成人久久18免费网站游戏 | 理论片日韩 | 日韩中文字幕精品一区在线 | 欧美性活一级视频 | 成人国产三级精品 | 波多野结衣一区二区在线 | 精品国产爱久久 | 成人免费在线视频 | 久草手机视频在线 | 精品丝袜国产自在线拍亚洲 | 国产黄色片在线免费观看 | 亚洲加勒比久久88色综合一区 | 日本特黄特色视频 | 日韩欧美毛片免费观看视频 | a一级网站 | 99精品在线视频观看 | 一级在线毛片 | 久草视频免费在线看 | 日韩精品中文字幕在线 | 免费在线观看a级片 | 俄罗斯18videosex性欧美成人 | 一级毛片欧美大片 | 久久国产亚洲精品 | 亚洲 欧美 国产 中文 | 日韩一区二区三区四区 | 午夜精品尤物福利视频在线 | 洋老外米糕国产一区二区 | xxxx欧美视频 | 久久丁香| 成人男男黄网色视频免费 |