When Chinese online gaming company Changyou.com started the marketing for a US initial public offering in mid-March, at a time of very volatile markets, it was by no means a guaranteed success. Several US IPOs that had launched since the beginning of the year had been forced to withdraw before pricing due to the volatile market environment and a lack of investor interest, and when Changyou decided to have a go, only one US company had managed to complete a listing in 2009. The two most recent Chinese listings in the US, which took place in late July and early August last year before the financial crisis began in earnest, had also both...
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