27 February 2020

Wall Street set for more Chinese dotcom listings, paper says

Wall Street is set to see more initial public offerings by Chinese internet firms in the coming months, with market sentiment getting a lift after recent quarterly reports from the sector beat expectations, China Daily reported Thursday. Shares in Dangdang Inc, a US-listed Chinese e-commerce website, surged late last month after the company said it returned to profitability for the first time since 2011. Also on Feb 27, video website Youku Tudou Inc, listed on the New York Stock Exchange, reported a 42 percent year-on-year revenue growth for the fourth quarter, the report noted.

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