Fosun
;AccordingtoChinaDailyreportsonSeptember9,the ;ChineseonlineretailerJingdongMallIncissettokickoff ;anIP0processthatcouldbethemostdaringbetyetonUS ;investors’appetiteforChinesestocks.
;Thecompany,whichisalsoknownbythenameof
;360buy.com,planstoraiseUS$4biNiontoUS$5billioninan ;IPOtentativelyscheduledforthefirsthalfof2012.according ;t0IFR.aThomsonReuterspublication.
;AnIPOofthatsizewouldsurpassGoogleInc’sUS$1.9
;billionIPOin2004asthe1argestInternetfloatintheUnited ;States,accordingtoThomsonReutersdata.
;Theramp—uptotheIP0comesastheUSIPOmarket
;hasbeenstrugglingamidvolatilitytriggeredbyEurope’sdebt
;crisisandaweakdomesticrecovery.Anumberofdealswere ;withdrawnlastmonth.
;ItalsocomesassomeUS-listedChinesecompanies—
;mainlythosethatlistedonUSexchangesthroughreverse ;mergers—-havebeentaintedbyallegationsoffraudulentac—-
;counting.
;“Rightnow,USinvestorsareverycautiousaboutChi-
;neseIPOs.ThefactthatsomeofthoseIPOslikeLongtop ;basicallyhavedefaultedinthelastfewmonthsobviously ;taintsthewatersforalloftheotherChineseIPOs,”saidJosef
;Schuster,founderofChicago-basedIPOresearchandinvest- ;mentfirmIPOXSchusten
;Establishedin2004,JingdongisChinassecondqargest ;onlineretailerbehindTaobao,accordingtothelatestresearch ;fromAnalysysInternationa1.
;SomeanalystsaredoubtfulabouttheabilityofChinese ;e-commercecompaniestomakeaprofitintheneartermbe—
;causeofthehugemarketfragmentation.
;Jingdonghasabout15millionregisteredusers.Itisnot ;currentlyprofitable.butfounderandCEoLQiangdong ;saidthecompanyisexpectedtobecomeprofitableinthesec- ;ondhalf0f2012.
;Jingdong’srevenueisexpectedtoreach28billionyuan
;(US$4.4billion)bytheendof2011,upfrom10billionyuan ;attheendof2010.
;~ngdongraisedUS$1.5billioninathirdroundoffund—
;inginApril,whichvaluedthecompanyatUS$10billion,
;IFRsaid.Russia’sDigitalSkyTechnologiesandTigerFund ;areamongtheinvestorsinthecompany.
;DellIncispartneringChinastopsearchengineBaidu ;Inctodeveloptabletcomputersandmobilephones,targeting ;theChinesemarketnowdominatedbyAppleIncandLe—
;novodevices,accordingtoChinaDailyonSeptember6. ;Chinaisoneofthefastestgrowingmarketsfortablets ;andishometomore
;than900million
;mobilephonesub—
;scribers.Analysts
;saidthetie—upcould
;beDe11’swayto
;reviveitsflagging
;tabletbusiness.
;“Isuspectthis
;isjustDell,whohas
;alotofproblems
;onthemobileand
;tabletfront,graspingatstrawstogetanykindofpublicity ;thatitcantomakeitsproductmoreattracti’ve,”saidMichael
;Clendenin,managingdirectoroftechnologyconsultancy
;RedTechAdvisors.
;“UltimatelyinChina,IstillthinkitisApple’sgame,
;stillfortheiPadandiPhone.”
;BaiduisoneofChina’sbestknownbrandsandamob~e
;phoneortabletcarryingtheBaidunamewillbeabletolever- ;ageonthatrecognitionalloverChina,analystssaid. ;Delldeclinedtogiveatimelineforthelaunchofthe ;devices,butlocalmediareportedonSept6,quotingsources, ;thatitmaybeasearlyasNovember.
;“WhaveapartnershipwithBaiduandyouknowwe
;havetheStreak5tablet,sothepartnershipwillbeinthat ;space,”aDe?spokeswomantoldReutersonSept5,adding ;thatbothcompanieswerealsocooperatingonthemobile ;handsetfront.
;Deli’sStreak5tabletisafive-inchAndroid-basedtablet
;thatwasdiscontinuedintheUnitedStateslastmonth. ;China’sprivateFosunGroupandPrudentialFinancial
;Inc(PFI)havewongovernmentapprovaltolaunchanewlife ;insuranceiointventurecompany,asreportedbyChinaDailv ;onSeptember16.ItwillbeChinason1vlifeinsuranceioint ;venturebetweenaprivateenterpriseandaforeigninsurer. ;Fosunsaidthe50-50iointventurewillstartwithregis—
;teredcapkalof500millionyuan(US$78million)witheach ;companyproviding250millionyuan.1he{ointventurewinbe ;headquarteredinShanghaiandmainlyfocusontheChinese ;market.Operationsareexpectedtobegininthefourthquarter ;of2012,followingfina1approvalfromtheChinaInsurance ;RegulatoryCommission(CIRC)andotherauthorities. ;China’sinsurancemarkethasseenyearsofrapidgrowth.
;butpenetrationanddensityarestillfarbelowtheaverage ;globallevel,indicatinggreatgrowthpotentia1.Accordingto ;theCIRC.1ifeinsurancepremiums(includinghealthand ;personalaccidentinsuranc~amountedto1.06trillionyuan ;in2010.
;Fosun,Shanghai’slargestprivateenterprise,wasfound—
;edin1992.Itscurrentareasofinterestincludepharmaceuti—
;calsandhealthcare,property,steel,miningandretaihng. ;团
;