China’s IPO Feeding Frenzy Leaves Sour Taste

From the Financial Times:

When PetroChina listed its shares in Shanghai last November, the headline around the world was that PetroChina had a market capitalisation of more than $1,000bn – making it the planet’s most valuable company – after the shares rose 163 per cent on the first day.

Within China, however, there has been much more attention given to what happened afterwards. The shares are now nearly 50 per cent off their high, inflicting large losses on all those small investors who, overwhelmed by the enthusiasm of the moment, bought on the first day of trading.

PetroChina’s dismal post-IPO performance has prompted a flurry of online anger in chatrooms and blogs that investors read.

CDT EBOOKS

Subscribe to CDT

SUPPORT CDT

Browsers Unbounded by Lantern

Now, you can combat internet censorship in a new way: by toggling the switch below while browsing China Digital Times, you can provide a secure "bridge" for people who want to freely access information. This open-source project is powered by Lantern, know more about this project.

Google Ads 1

Giving Assistant

Google Ads 2

Anti-censorship Tools

Life Without Walls

Click on the image to download Firefly for circumvention

Open popup
X

Welcome back!

CDT is a non-profit media site, and we need your support. Your contribution will help us provide more translations, breaking news, and other content you love.