2017 has so far seen 13 Chinese companies list on the US stock exchanges
With about $2.4 billion raised in IPOs on US exchanges by Chinese companies so far this year, other China-based firms are increasingly vying for US investors and exchanges. Robust US investor demand for fast-growing Chinese companies (FXI) (YINN) has added wind to the string of IPOs that companies based out of this Asian nation (AAXJ) (VPL) have made in the US (SPY) (IWM). The year 2017 has so far seen 13 IPOs completed by Chinese companies on the US stock exchanges. These are:
RISE Education Cayman Ltd (REDU)
The Beijing-based leader in junior English language training company, RISE Education Cayman Ltd. is the latest Chinese company to list on the US exchanges. On October 20, the consumer sector firm listed on the NASDAQ GM stock exchange under the ticker REDU. The company is a pioneer in the “subject-based learning” teaching philosophy in China. The IPO, which became effective as of October 19, bagged $159.5 million at an initial offer price of $14.5 a share.
REDU closed at $15.14 on October 23 with a market capitalization of $832.7 million.
Qudian Inc (QD)
On October 18, Chinese online micro-credit provider Qudian Inc listed on the NYSE, raising $900 million in an IPO that was priced at $24, in the biggest ever US listing by a Chinese fintech firm. The financial sector firm’s stock, trading under the symbol QD, closed at $33 as of October 23. The stock commands a market capitalization of $8.8 billion in the US stock market.
Year-end Forward P/E for the depository receipt is estimated at 21.47. Estimated earnings-per-share stand at $8.21.
RYB Education Inc (RYB)
Beijing-based RYB Education, Inc. is the largest and leading early childhood education and care provider in China. It operates kindergarten and preschool services. The company raised about $166 million in an initial public offering on September 27, listing the company’s stock on the NYSE with the ticker RYB at $18.5 a share. RYB closed at $26.01 a share on October 23. The stock commands a market capitalization of $745.5 million in the US stock market. Year-end forward P/E for the depository share is estimated at 78.82. Estimated earnings-per-share stand at $0.33.
Secoo Holding Ltd (SECO)
Secoo Holding is Asia’s largest luxury e-commerce company. The Beijing-based e-retailer listed on the NASDAQ GM stock exchange on September 22nd under the symbol SECO. The IPO raised $110.5 million for the company at an offer price of $13 per share. The stock was down to $8 as of October 23 with a market capitalization of $411 million.
TDH Holdings Inc (PETZ)
TDH Holdings, through its subsidiaries, manufactures pet food products, as well as, canned vegetables and chews. The company recently listed its shares on the NASDAQ CM stock exchange on September 21, raising $6.5 million at $4.25 a share. The shares of the company now trade under the symbol PETZ on the US exchange at $25.25 a share (as of October 23) with a market capitalization of $230.6 million.
BEST Inc (BSTI)
On September 20th, Alibaba Group (BABA) backed logistics firm, Best Inc. raised $517.5 million at $10 a share in an IPO. The stock now trades on the NYSE at $10.94 (as of October 23) under the symbol BSTI. The stock commands a market capitalization of over $4 billion in the US stock market. The Hangzhou-based company offers logistics and supply chain management solutions in China.
Zai Lab Ltd (ZLAB)
The Pudong-based biopharmaceutical company, Zai Lab, is built on a vision that China would be the next destination for the pharmaceutical and healthcare industry. The company raised $172.5 million in an IPO on September 20, marking its listing on NASDAQ GM stock exchange under the ticker ZLAB. The shares initially offered at $$18 a share, now trade at $26.5 (as of October 23) with a market capitalization of $1.3 billion.
ZK International Group Co Ltd (ZKIN)
ZK International Group Co., Ltd, a subsidiary Zhejiang Zhengkang, is an industrial sector firm engaged in the designing and production of pipes and fittings. The company’s stock listed on the NASDAQ CM stock exchange under the symbol ZKIN on September 1 via an IPO, at $5 a share raising $5.3 million for the company. The stock commands a market capitalization of $103 million in the US stock market and closed at a price of $7.88 on October 23rd.
China Internet Nationwide Financial Services (CIFS)
This Beijing-based financial sector firm, trades under the ticker CIFS on the NASDAQ GM stock exchange, is engaged in providing financial advisory services in China. The company’s stock listed on the US stock market on August 8 at an initial offer price of $10 a share, raising $20.2 million for the company. The stock, trading at $31.5 (as of October 23rd), commands a market capitalization of $693 million in the US stock market.
Newater Technology Inc (NEWA)
Newater Technology, Inc. operates as a wastewater purification treatment company. The Yantai-based industrial firm listed on the NASDAQ CM stock exchange on July 28th under the symbol NEWA. The IPO raised $8.05 million for the company at an offer price of $5 per share. The stock closed at $9.77 as of October 23rd with a market capitalization of $103.6 million.
Bison Capital Acquisition Corp (BCACU)
Bison Capital Acquisition is engaged in services such as share exchange, amalgamation, acquisition, share reconstruction, asset management, and other financial services. On June 20, the blank check company listed on the NASDAQ GM stock exchange under the ticker BCACU. The IPO bagged $52.5 million for the company at an initial offer price of $10 a share.
BCACU closed at $10.31 on October 23 with its market capitalization standing at $82.3 million.
Bright Scholar Education Holdings Limited (BEDU)
Bright Scholar education Holdings, listed as BEDU on the NYSE, provides bilingual, kindergarten, training, and other educational programs and services through its subsidiaries in China. The company raised over $181 million in an initial public offering on May 18, listing the company’s stock on the US stock market at $10.5 a share. BEDU closed at $25.55 a share on October 23. The stock has a market capitalization of about $3 billion in the US stock market.
China Rapid Finance Ltd (XRF)
Listed since April 28th on the NYSE stock market, China Rapid Finance Limited operates one of China’s largest online consumer lending marketplaces. The company caters well to China’s 500 million EMMAs (Emerging Middle-class Mobile Active consumers), and has facilitated over 20 million loans to more than 2.7 million borrowers. Back in April, the company raised $69 million in an IPO, marking its listing on the US stock exchange under the ticker XRF. The shares initially offered at $6 a share, and now trade at $9.06 (as of October 23) with a market capitalization of $586.2 million.