NEW YORK, June 11 Two Chinese companies have
set a late June date for their U.S. initial public offerings,
the underwriters of their deals said on Thursday, signaling a
pick-up in the return of foreign IPOs.
Duoyuan Global Water Inc DGW.N, a Beijing distributor of
water treatment equipment, seeks to raise about $70 million,
while Chemspec International Ltd CPC.N, a Shanghai-based
maker of specialty chemicals, hopes to raise about $64.8
million in its own deal.
Both are set to price on June 23 and begin trading the next
day on the New York Stock Exchange.
If the deals go ahead as planned, they will bring to three
the number of IPOs by Chinese companies on a U.S. exchange so
far in 2009, following the $120 million stock flotation by
Chinese video-game maker Changyou.com Ltd (CYOU.O), an offshoot
of Chinese Internet portal Sohu (SOHU.O).
That deal followed a six-month spell with no IPOs by
foreign companies in the United States.
Duoyuan's IPO is being book-run by Piper Jaffray, while
Chemspec's deal is being underwritten by Credit Suisse
CSGN.VX and Citi (C.N).
(Reporting by Phil Wahba, editing by Maureen Bavdek)