日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

Markets

Asian companies lead IPOs in US

By Cecile Vannucci (China Daily)
Updated: 2010-11-01 10:28
Large Medium Small

NEW YORK - Le Gaga Holdings Ltd, the Hong Kong-based greenhouse vegetable producer, raised $103 million in an initial public offering (IPO) at the end of last month, as Asian companies led the busiest month for US IPOs in almost three years.

Stocks in the seller of produce to supermarkets in Hong Kong and mainland jumped 19 percent on Friday after pricing its US depositary receipts at $9.50 each, the top end of its forecast range, according to data compiled by Bloomberg. A total of 21 companies sold shares through IPOs in October, the most since 22 initial sales in December 2007, according to the data.

Companies in Asia, the world's fastest growing region, have recorded six of the 10 largest gains among IPOs in the United States this year. ChinaCache International Holdings Ltd, the Beijing-based provider of Internet content to businesses, this month had the biggest first-day rally for a New York listing in three years.

"That's where everybody wants their money and where the hot story is right now," said Timothy Cunningham, a money manager at Santa Fe, New Mexico-based Thornburg Investment Management, which oversees about $69 billion. "Especially for China, you have a nice long-term growth story there."

Le Gaga intends to use the money to build greenhouses and improve other facilities, its Securities and Exchange Commission filing showed. The company will also use proceeds for research and development. Bank of America Corp of Charlotte, North Carolina, and Zurich-based UBS AG led the offering.

Economic growth

"We're happy," said Ma Shing Yung, Le Gaga's chairman and chief executive officer. The IPO was priced "at the high end of the price range, so we're very happy about it", he said.

Revenue at Le Gaga rose 41 percent to 281 million yuan ($41.4 million) in its fiscal year ended March 31, its filing showed. The company's profit increased 82 percent.

Le Gaga operates 16 farms in the Chinese provinces of Fujian, Guangdong and Hebei, according to its filing. Le Gaga uses greenhouses to grow vegetables at most of its farms in Fujian and Guangdong. Its two farms in Hebei produce vegetables that grow best in a cooler climate, the filing showed.

Asian economies will grow 6.6 percent next year, according to the Washington-based International Monetary Fund. China's economy will expand 9.6 percent. In the US, where at least 55 companies have postponed or withdrawn IPOs this year, economic growth will slow to 2.3 percent in 2011, the estimates show.

Reassessing risk

Benchmark interest rates near zero percent in the US have also increased demand for higher-yielding assets, leading more investors to IPOs, said Jason Cooper, who oversees $2.5 billion at 1st Source Investment Advisors in South Bend, Indiana.

"People are finding it hard to continue to put money into assets that are earning very little and will continue to earn very little," Cooper said. "People are reassessing how much risk they're willing to take."

That's "probably helped the IPO market," he said.

Companies from Asia have led the rebound. Shares in JinkoSolar Holding Co, the maker of silicon wafers in China's Jiangxi province, has gained 174 percent. Equity in HiSoft Technology International Ltd, the Dalian-based company that helps businesses outsource software development, rose 166 percent.

Shares in MakeMyTrip Ltd, India's largest online travel company, based in Gurgaon, climbed 158 percent.

The last two Chinese IPOs in October, Beijing-based TAL Education Group, and Mecox Lane Ltd of Shanghai, both advanced at least 50 percent on their first day of trading.

More IPOs

Asian companies lead IPOs in USThe lure of the silver screen looms ever larger
Related readings:
Asian companies lead IPOs in US China's Mecox Lane raises $129m in US IPO
Asian companies lead IPOs in US Tudou.com seeks $100m-plus Nasdaq IPO -sources
Asian companies lead IPOs in US AIG raises $17.8b in AIA IPO
Asian companies lead IPOs in US Youku and Tudou in race for offshore IPO
Seven companies are seeking to raise a combined $1.02 billion through US IPOs this week, which would be the most in four months, according to data compiled by Bloomberg.

The first four will come from companies outside the US. Xueda Education Group and SinoTech Energy Ltd of Beijing will offer American depositary receipts after equity in three of the five Chinese companies that completed US IPOs last month climbed at least 40 percent.

Xueda Education, which provides tutoring services for primary and secondary school students in China, plans to raise $124 million by offering 13.43 million ADRs at $7.25 to $9.25 apiece on Monday, its US Securities and Exchange Commission filing showed. SinoTech Energy, which provides enhanced oil recovery services in China, is seeking $188 million the next day, according to data compiled by Bloomberg.

SodaStream International Ltd, the seller of home soda makers based in Airport City, Israel, will also attempt to sell $95 million of shares. Costamare Inc, the Athens-based owner of container ships, plans to raise $226 million on Wednesday.

Bloomberg News

 

主站蜘蛛池模板: 日本三日本三级少妇三级66 | 亚洲理论在线观看 | 日日躁夜夜躁 | 91美女片黄在线观看游戏 | 亚欧精品在线 | 一区二区免费在线观看视频 | 久久精品黄色片 | 亚洲精品影院 | 国产原创在线播放 | 自拍偷拍国产精品 | 国产精品久久久久久69 | 国产精品美女在线 | 亚洲免费黄色 | 91九色视频在线 | 精品一区二区三区在线观看视频 | 欧美激情在线看 | 国产精品久久欧美久久一区 | 大地资源中文在线观看免费版 | 欧美综合亚洲 | 波多野结衣一区二区三区四区 | 精品一区二区三区在线视频 | 亚洲精品中文字幕在线观看 | 亚洲黄色在线观看 | 97超碰资源站 | 手机看片国产日韩 | 一级片一区 | 操久久久| 四虎最新网址在线观看 | 超碰99热| 免费av网站在线 | aaa黄色片 | 日韩三级视频 | 亚洲福利久久 | 在线网站你懂的 | 五月婷婷狠狠爱 | 国产午夜精品久久久 | 国产羞羞网站 | 中国毛片在线观看 | 99久久99久久久精品棕色圆 | 99热99精品| 国产毛片一级 |