Traders stand outside the New York Stock Exchange prior to the opening bell October 31, 2012.
Thursday’s New York Stock Exchange (NYSE) listing of 58.com, China’s equivalent of Craigslist, will gauge if Americans have rediscovered an appetite for Chinese stocks.
If successful, 58.com’s IPO could set the stage for a succession of Chinese companies to sell their shares on the U.S. market, Wall Street Journal reports. If Alibaba Group Holding Ltd follows in its steps, it could make it the largest IPO in the U.S. since Facebook’s.
U.S. investors withdrew on a wide front from Chinese company shares two years ago, following a handful of alleged accounting frauds.
[WSJ]