By Alison Tudor
HONG KONG—Chinese social networking site Kaixin001.com is planning to list in the U.S. and has appointed Citigroup /quotes/comstock/13*!c/quotes/nls/c C 0.00% Inc. and J.P. Morgan Chase & Co /quotes/comstock/13*!jpm/quotes/nls/jpm JPM +0.09% . as its underwriters on the deal, two people familiar with the situation said Friday.
The deal comes after China's Qihoo 360 Technology Co. /quotes/comstock/13*!qihu/quotes/nls/qihu QIHU -0.13% Ltd. soared nearly 135% during its first day of trading on March 30, in the best-performing initial public offering to launch in the U.S. so far this year, and the best first-day pop since Chinese Internet television company Youku.com /quotes/comstock/13*!yoku/quotes/nls/yoku YOKU -0.40% Inc. gained 161% in December.
Chinese social networking site Renren.com, like Kaixin001 a Chinese version of Facebook Inc., hired investment banks Morgan Stanley /quotes/comstock/13*!ms/quotes/nls/ms MS +0.34% , Credit Suisse Group /quotes/comstock/13*!cs/quotes/nls/cs CS -1.96% and Deutsche Bank /quotes/comstock/13*!db/quotes/nls/db DB -3.51% AG to advise it on its efforts to raise about $500 million to fuel its expansion plans, people familiar with the matter said in February.
Corrections & Amplifications
An earlier headline on this article incorrectly said Kaixin001 would file for an initial public offering in Hong Kong.作者: tfmegatron 时间: 2011-4-18 17:49
