Fewer Chinese tech listings likely in US this year
Debut US stock sales by Chinese Internet companies are poised to drop by about half from last year's record as the pool of mature startups shrinks and their larger peers are more apt to provide them with needed funding.
About a half-dozen companies may hold initial public offerings in New York this year, according to analysts at 86Research Ltd, Rosenblatt Securities Inc, and JG Capital Corp. Among the most likely candidates are Dianping.com, a consumer review website akin to Yelp Inc in the US, and Meituan.com, which runs a discount site similar to Groupon Inc, they said.
After about 60 Chinese Internet stock sales in the US since 2000, including 12 IPOs last year, the biggest names in e-commerce, search, travel and social networking have already listed, leaving fewer nascent firms ready to go public. Startups looking for capital are finding a crowd of deep-pocketed companies such as Alibaba Group Holding Ltd and Baidu Inc eager to invest in smaller rivals.
