Two Chinese companies, Acorn International Inc (NYSE:ATV) and
Qiao Xing Mobile Communication Co Ltd (NYSE:QXM), were listed on
the New York Stock Exchange yesterday.
Acorn International Inc, the Shanghai-based TV direct sales
company, priced its initial public offering (IPO) at US$15.5 a
share. With 7.7 million American depositary shares (ADS) in the
deal, Acorn International raised US$119 million.
The company runs TV direct sales programs on four nationwide
China Central Television channels and 28 national satellite TV
channels.
Shares of ATV opened at US$19.9 a share, and rose to US$21.49 a
share in recent trades.
With 13.3 million shares in the deal, Qiao Xing Mobile raised
133 million in the IPO. Qiao Xing Mobile raised US$160 million in
the IPO.
Qiao Xing Mobile is one of the leading domestic manufacturers of
mobile handsets in China in terms of unit sales volume.
Shares of Qiao Xing Mobile opened at US$12 and rose to US$12.29
a share.
(Xinhua News Agency May 4, 2007)