“Torn between Chinese dot-com IPOs with hot growth prospects and a too-hot economy, investors don’t know whether they’re coming or going
For anybody who has followed the roller-coaster world of Chinese Internet IPOs this year, the pattern is already distressingly familiar. Last week, Tencent Holdings, an instant-messaging outfit based in the southern Chinese city of Shenzhen, made a big splash on the Hong Kong market. Its initial public offering, which was arranged by Goldman Sachs, was 158 times oversubscribed. ”
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