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China tech companies shine in U.S. debut as IPO market booms

23
Nov
2013

, surged in their U.S. debuts on Friday, as investors bet on Chinese technology companies backed by marquee underwriters. Investor appetite for Chinese companies seems to have recovered after a series of accounting scandals in the past couple of years dried up U.S. listings of China-based companies in 2011 from a high of 40 in 2010. “If they (Chinese IPOs) are brought by top-tier underwriters, then investors are a lot more interested,” said Francis Gaskins, a partner at IPO research company IPODesktop.com. Deutsche Bank led the offering of online sports-lottery operator 500.com, while Credit Suisse and JP Morgan were the lead underwriters for the IPO of mobile applications maker Sungy Mobile.

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