Interesting report on the CNN Money website. They report that 33 Chinese Companies Listed on NASDAQ in 2009. More than any other U.S. exchange and there’s now a total of 124 Chinese companies listed on the exchange.
The report goes on to say that NASDAQ recently celebrated its 100th milestone listing from mainland China, China Nuokang Bio-Pharmaceutical Inc. (NKBP), a healthcare company that focuses on blood and cardiovascular treatments.
“The NASDAQ Stock Market is the exchange of choice for innovative, growth-oriented companies across all key sectors of China’s economy,” said Eric Landheer, Head of Asia Pacific for NASDAQ OMX. “That’s why more than 33 Chinese companies chose to list on our exchange in 2009.”
In 2009, there were nine IPOs of Chinese companies on the NASDAQ Stock Market, including Shanda Games (GAME), which had one of the largest U.S. IPOs and the largest capital raise for a Chinese company in 2009. Gaming company Changyou.com (CYOU), one of the best performing U.S. stocks in 2009, as well as China Real Estate Information Corp. (CRIC), the first spinoff of a Chinese company listed on the NYSE, choose to list their shares on NASDAQ.
“Every day we talk to Chinese companies about how they can access the world’s largest capital market with the highest listing standards and greatest liquidity,” said Yeeli Hua Zheng, Chief Representative in China for NASDAQ OMX. “Chinese companies want to go abroad in order to expand their investor base and enhance their global brand, and they are doing so by listing on NASDAQ, the home of innovation and growth.”
Recent switches of Chinese companies from NYSE to the NASDAQ Stock Market include Hong Kong High Power Technology (HPJ), H1N1 vaccine manufacturer Sinovac Biotech (SVA) and sportswear manufacturer and retailer Exceed (EDS). During 2009, a total of 24 companies have switched or announced their intent to switch from NYSE to the NASDAQ Stock Market, including Vodafone, Mattel, Dreamworks and Micron.
The 124 Chinese listed companies on NASDAQ include Baidu, NASDAQ’s largest listed company in China and a member of the prestigious NASDAQ-100 Index(R), Asia Info, CNinsure, Inc., JA Solar, Ctrip.com International Ltd., Home Inns and Hotels, Sohu and Sina.
http://money.cnn.com/news/newsfeeds/articles/globenewswire/181218.htm
