Mixed Chinese debuts in the US
Advertising firm AirMedia looks to the sky, while agricultural solutions play Agria stays close to the ground after completing their IPOs. Focus Media prices follow-on.
The latest two Chinese companies to list in the US saw a mixed response when they started trading last night. Screen-based advertiser AirMedia Group followed the recent trend with a gain of close to 40%, while agricultural solutions firm Agria Corp tumbled more than 25%.
The two firms, which raised a combined $508 million, completed their transactions after the US market closed on Tuesday. On the same night, Focus Media priced a combined follow-on and sell-down offering of $888.4...
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