Better Chinese IPO: Best Inc. vs. Secoo Inc.
Two Chinese companies, Best (NYSE: BSTI) and Secoo (NASDAQ: SECO), both recently went public in the US with mixed results. Best originally planned to sell 62.1 million shares between $13 to $15 per share, but soft demand caused it to revise the offering to 45 million shares at $10. The stock now trades marginally higher at about $11.
Secoo priced its initial offering of 8.5 million shares at $13, but it seemingly overestimated investor demand, and the stock plunged to about $7 per share over the following weeks.
Investors don't seem excited about either of these stocks, but I think that they deserve a closer look.
Source: Fool.com
JD.com Inc. ADR Aktie
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