{"id":10564,"date":"2011-10-02T04:10:18","date_gmt":"2011-10-02T04:10:18","guid":{"rendered":""},"modified":"2011-10-02T04:10:28","modified_gmt":"2011-10-02T04:10:28","slug":"Biggest-IPO-in-US-history-is-a-go-It-s-Chinese-","status":"publish","type":"post","link":"https:\/\/asiancemagazine.com\/?p=10564","title":{"rendered":"Biggest IPO in US history is a go! It’s Chinese!"},"content":{"rendered":"

A Chinese retailer nicknamed “the Asian Amazon.com” plans a $5 billion initial public offering in the U.S.<\/a> — while American firms like Facebook and Groupon have delayed or dropped plans to go public.<\/p>\n

It’s easier, for a number of reasons, for a tech firm to go public in China than in the U.S. these days.<\/p>\n

360Buy.com<\/strong>, owned by Beijing Jingdong Century Trading Co., sells cameras, cell phones, computers and the like to the billion-strong Chinese market. And just as in the go-go 1990s, big investors are salivating at its potential market value: The Walton family (think Wal-Mart) recently invested in the site.<\/strong><\/p>\n

“It will be the biggest tech IPO ever”,<\/strong> Tim Keating, former managing director of investment bank Bear Stearns International and now CEO of Denver-area investment fund Keating Capital told FoxNews.com.<\/p>\n

Meanwhile, leading U.S. tech firms are struggling with their IPO plans.<\/strong><\/p>\n

* Facebook has pushed off its IPO plans to at least late next year, despite recent private valuations that peg the company at more than $60 billion.<\/p>\n

* The popular daily deals site Groupon delayed its IPO as accounting irregularities led to a plunge in revenues.<\/p>\n

* Zynga, the maker of popular games like Farmville, recently delayed its hotly anticipated IPO due to “market turbulence.”<\/p>\n

And though 360Buy.com is valued at $10 billion — the company is only putting half of its valuation up for sale<\/strong> — it’s far from China\u2019s largest online retailer.<\/p>\n

\u201cConsider that the market leader, Taobao Mall, had 370 million registered users in 2010,\u201d Tom McHale, a former technology journalist in Beijing, told FoxNews.com. \u201cJingdong today claims 15 million users, and that makes Jingdong difficult to find on any list of Internet business leaders in China.\u201d<\/p>\n

But that hasn’t stopped the company, which has been in meetings with leading Wall Street firms in Beijing this month with dollar signs in their eyes: Google raised $1.9 billion with its IPO, after all. <\/p>\n

Source<\/a>
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