Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Report on Business

Streetwise

News and analysis on Bay Street and the world of finance
available exclusively to subscribers of Globe Unlimited

Entry archive:

(AFP)
(AFP)

Chinese tech IPOs go west Add to ...

Some of the hottest initial public offering markets in the world are in China, particularly Hong Kong.

Glencore International is heading to London and Hong Kong for its big listing. But where are Chinese companies, especially those in the high tech field, heading? Increasingly, the answer is: west.

According to Thomson Reuters, eight Chinese companies have listed in the United States so far in 2011, raising $1.5-billion (U.S.). That's more than triple the pace to the same point in 2010.

Renren Inc.'s $855-million (U.S.) initial public offering on the New York Stock Exchange this week makes up the bulk of that tally.

The initial public offering by Renren, a Beijing-based provider of social networking Internet services, was the largest Chinese IPO in the U.S. since Shanda Games raised $1-billion in late 2009, Thomson Reuters said.

Who's bringing all these companies west? Often, it's western backers that got in early. For example, Sequioa Capital has done it a lot, as detailed in this Wall Street Journal item.

Follow on Twitter: @boyderman

 

In the know

Most popular video »

Highlights

More from The Globe and Mail

Most Popular Stories