YY Inc to float on NASDAQ (2)

YY's future performance on the US stock market is also uncertain because of the dubious attitude there toward China concept stocks, said Cao.

IPOdesktop.com, a US research institute which tracks the development of newly issued shares, posted a preview of YY Inc on its website Tuesday and concluded, "pass on the YY IPO."

Starting from 2010, the share prices of US-listed Chinese companies dropped by an average of 40 percent from their offering prices, Caijing magazine reported Wednesday citing Ipreo, a leading global provider of market intelligence.

In 2012, four Chinese companies delayed or canceled their IPOs, resulting in only two listed in the US - online shopping operator Vipshop Holdings in March and B2C e-commerce service provider Acquity Group in April, according to Ipreo, compared with some 36 launching IPOs in the US in 2010.

Although the current US stock market is not favorable for the development of China concept stocks, Chinese companies still should have confidence in overseas investors and expect share prices to increase as long as they show attractive growth in their financial reports, Li Yan, a stock analyst from the Beijing-based financial information provider imeigu.com, told the Global Times Wednesday.

Vipshop had planned to collect $120 million from the US stock market, but pulled down its offering price by 23.5 percent when it launched its IPO in March. However, its share price as of Wednesday was $12.46, compared to its initial offering price of $6.50.

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