When you have lost your appetite, the last thing you need is a feast. But US investors will have to decide whether to nibble on the upcoming Chinese tech flotations or wait for the bumper main course –Alibaba.
About half a dozen Chinese companies hope to list in the US during the next few months, but markets are already proving tough. Weibo, China’s Twitter-like microblog, was forced to cut the size of its Nasdaq deal last month. Weibo’s parent company, Sina, has seen its share price sink 42 per cent this year.
Others have also felt the pain. Search engine Baidu is down more than 10 per cent and Sohu is off a quarter, while online video site Youku Tudou has lost almost a third.
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