Shares of 500.com Ltd and Sungy Mobile Ltd , surged in their U.S. debuts on Friday 22 November.
Big names led the offerings, Deutsche Bank for the online sports-lottery operator 500.com, while Credit Suisse and JP Morgan were the lead underwriters for the IPO of mobile applications maker Sungy Mobile.
However, once bitten, two hundred times shy and you will see why in the post No More Chinese Companies
And also this is an excerpt from another post of mine:
I was taken by the hype and bought Facebook shares at its IPO (around
$40). It was my first IPO purchase so I had to take it down :). At some
point the stock reached $20 and I was highly tempted to double my
position but I remembered the sage of Omaha's rules:
Rule no.1: Never lose money.
Rule no.2: Never forget rule No.1.
He did not say: Make up the lost money.
So I did not buy any FB shares.
And a few weeks ago the stock went above $40, sold half of it at $43 and
the other half at $50. I had a feeling the stock would go higher (it
closed on Friday 18 Oct at $54) but I did not want to take any chances.
However, having said that (actually written) I am sure these 2 Chinese companies will do perfectly fine and their investors will make money. After all I have not invested in them :).