Companies

Two Chinese firms debut on NYSE

(Crienglish.com)
Updated: 2011-05-13 15:13

Two Chinese companies have now debuted on the New York Stock Exchange (NYSE). However, the offerings have been mixed.

Related readings:  Chinese Internet firms rush for US IPO  Renren IPO pricing delayed until Wednesday: Source  Renren audit chief quits ahead of IPO  Phoenix hopes listing will help it to fly

Shares of Phoenix New Media have done well in their stock market debut.

The stock has closed at $14.75, 34 percent above its $11 initial public offering (IPO) price.

However, shares of Chinese auto parts company Zenix have dropped 2.5-percent below its IPO price.

Shares of Chinese social networking site Renren continue to be hammered down in New York after strong debut last week on the NYSE.

Renren shares have dropped another 6.6 percent to close trading at $12.6.