China IPOs Fly

From Renaissance Capital, China IPOs continuing to come fast, and (mostly) fly:

Beijing-based Global Education & Technology marks the sixth IPO from a China-based company to list on a US exchange over the last month. China-based IPOs have been among some of the best performers contributing to the recent uptick in performance of the US IPO market, and include the recent succesful debuts of online real estate portal SouFun (SFUN; up 52%), fast food restaurant chain Country Style Cooking (CCSC; up 68%), and internet content delivery network ChinaCache (CCIH; up 74%). Investors remain selective, however, with Chinese wind power company China Ming Yang (MY; down 5%) falling in its market debut last week and solar company Daqo New Energy (DQ; up 8%) rising only modestly yesterday after pricing below its expected range.

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