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People's Daily Online>>China Business

Chinese firms raise $2 billion in US in 2011

By Dou Hongmei (Beijing Daily)

15:30, January 12, 2012

Edited and Translated by People's Daily Online

Nearly 1,150 companies worldwide launched initial public offerings (IPOs) in 2011, raising a total of 167.8 billion U.S. dollars, according to the 2011 Global IPO Markets Review released by New York Stock Exchange’s Beijing office on Jan. 10.

NYSE Euronext led the world in IPO capital raised last year, with 33.5 billion U.S. dollars coming from 104 listings.

A total of 11 Chinese companies launched IPOs in the United States in 2011. These companies raised more than 2 billion U.S. dollars through IPOs on U.S. exchanges last year.

Among them, seven went public on New York Stock Exchange, raising a total of more than 1.5 billion U.S. dollars, accounting for 73 percent of the total IPO capital raised by U.S.-listed Chinese companies last year.

China-based Qihoo 360 soared 134 percent in its trading debut on March 30, 2011, making it the third best first-day gain for a U.S.-listed IPO in the last 10 years.

The top two companies are: Baidu and Youku which launched IPOs in the United States in 2005 and 2010 respectively. Three Chinese companies toped the best first-day performance of U.S. listed IPOs in the last 10 years.

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