Qihoo 360 IPO Soars 134% in Market Debut
Renaissance Capital IPO Research submits:
Qihoo 360 Technology (QIHU), which offers a safe web browser and other Internet security products in China, soared 134% in its trading debut on Wednesday, making it the third best first day gain for a US listed IPO in the last 10 years. That puts Qihoo in strong company, with the top two spots held by two other leading Chinese Internet companies: China's #1 search engine Baidu.com (BIDU) and China's #1 video portal Youku.com (YOKU). Baidu.com rocketed 354% in its 2005 debut, while Youku.com jumped 161% in a December 2010 IPO. In fact, four of the top 10 best first gains for US listed IPOs are now held by China-based companies. Content delivery network ChinaCache International (CCIH) currently holds the #8 spot on the list with a 95% initial gain in its September 2010 offering. While performance among several US-listed Chinese IPOs over the last year has left much toComplete Story »
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