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IPO - Monday, May 7, 2007

Mixed Bag For China IPOs: Acorn and Xing

xing china.png
TV and Internet retailing firm Acorn International (ATV) enjoyed a nearly 40%+ rise in shares while shares in Qiao Xing Mobile Communication (XING) fell 6% since their IPOs late last week.

Acorn runs the Web site chinadrtv.com and broadcasts on numerous TV channels in China, opened at $19.90 a share, and is now trading at $23.87. Acorn reported net income of $3.9M on revenue of nearly $197M in 2006, compared to net income of $8M and revenue of $170M in 2005.

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