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India’s Viom Networks Considering an IPO

IPO Could Raise $1.1 Billion

 

 

August 26, 2010 - The Indian mobile phone tower operator, Viom Networks Ltd. is considering an initial public offering (IPO).   Underwriters who have been in discussions with the company include Royal Bank of Scotland Group Plc, Citigroup Inc., Credit Suisse Group AG, Morgan Stanley, and UBS AG.

 

Although discussions have been preliminary, the consensus is that Viom Networks may raise around US$1.1 billion.  The company’s annual revenues were recently announced at slightly over $360 million, with operating profit of approximately $192 million.  (Full Story)

 

A Pleasant Change:  China Kanghui Holdings Closes Up 19% on its First Day of US Trading

 

August 16, 2010 – China Kanghui closes on its U.S. initial public offering (IPOs) and its shares have begun trading on the New York Stock Exchange.  While the performance of U.S. initial public offerings (IPOs) has been somewhat mediocre, it’s a pleasant change to see a U.S. Chinese IPO perform well on its first day of trading. 

 

China Kanghui Holdings closed its first day of trading last Wednesday up 19%. China Kanghui manufactures orthopedic implants that help treat bone fractures.  The company was founded in 1997 and its products have now been used in thousands of hospitals around the world. Since its founding, China Kanghui Holdings has grown to become the premier domestic orthopedic company in China.  It offers a full array of products in trauma, spine, and surgical instrumentation for its customers.  China Kanghui distributes its products in over 24 countries.  (Full Story)

Should Turkey and Indonesia be Considered “Junior BRICs”?

 

August 11, 2010 – The economic growth of Indonesia and Turkey is exceeding that of many of the world’s largest emerging markets.  Many are now suggesting that Indonesia and Turkey be considered “Junior BRICs.”  In that BRIC stands for Brazil, Russia India and China, it may be a bit of a stretch for them to be considered anything with BRIC in the title.  But, their equities are worth taking a look at. 

 

Indonesia's equities have climbed approximately 21% this year and Turkey's have risen 13%, both recently reaching all-time highs. (Full Story)

 

China Informally Announces that it’s Now the World’s Second Largest Economy

 

August 3, 2010 – An informal announcement was made by Yi Gang, the director of China’s State Administration of Foreign Exchange (SAFE) that China is now the world’s second largest economy. 

 

What was missing in Mr. Yi’s comments was a formal announcement that China was formally seizing a title that has been held by Japan for over 40 years.  It was also unclear as to whether he was referring to  China's gross domestic product (GDP) at market prices or based on purchasing power parity (PPP). (Full Story)