China IPOs

US appetite for Chinese internet IPOs defies weak profits

China's internet industry has become a darling with investors in the US, but the risks involved in buying these companies are hard to ignore.
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Renren is China's leading social-networking portal
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<div style="text-align: left;"> Renren is China's leading social-networking portal </div>

The frenzy of US IPOs from Chinese internet companies continues. Following Qihoo360 and 21Vianet’s popular initial public offerings, Renren, a Chinese Facebook clone, is said to have increased the offering price of its new share sale.

Others are riding the wave. Phoenix New Media, an internet, TV and mobile-news provider, is looking to raise $178.7 million when it lists on the New York Stock Exchange, while Jiayuan.com International, an online-dating platform operator, is seeking to raise $85.2 million from a Nasdaq offering. Renren’s domestic competitor, another copycat of Facebook, is also preparing a share sale.

These new issuers will likely find good demand in...

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