China’s Internet Hopefuls Line Up For NASDAQ Glory
Chinese Internet companies are lining up to get on the NASDAQ while it is hot. Compared to the last wave of China Internet company listings, this crop of Internet companies has some advantages Â? mostly that they are profitable and can ride the coat tails of Sina, Netease, and Sohu. The next wave is expected to include Alibaba, Shanda, 3721, Ctrip, Huicong, which are all reported to be in discussions with investment banks and some are rumored to have prospectus in hand only waiting for regulator go ahead. The three companies most regularly touted as ChinaÂ?s next hot Internet IPOs are Baidu, Shanda, and Alibaba. These companies are expected to hit NASDAQ and or Hong Kong Stock Exchange some time in 2004. A number of other companies are also expected to file for offshore listings including, eLong, eTang, 8848, and Zhaodaole (Ifindit). The biggest hurdle for all of these companies is not getting NASDAQ or HKSE approval but getting permission from Chinese regulators to go public offshore.
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