The internet firm’s successful IPO comes as 4G and mobile look set to accelerate growth in the industry, chief finance officer Paul Keung told FinanceAsia.
Credit Suisse also re-offers the deal at 97.5 to make the terms more attractive after the online Chinese real estate services provider receives insufficient demand from investors.
The operator of China’s leading real estate portal follows the lead of Qihoo 360, Ctrip and Sina and issues convertible bonds after its share price triples in the past five months.
US-listed YY is forced to pull its $250 million convertible bond after initially revising the terms and re-offering it below par. But Sina attracts strong demand.
The Chinese e-commerce company gives up on a Hong Kong IPO after failing to reach a compromise with local regulators on structural issues, sources say.
China’s online battle heats up as the country's biggest internet group, which on Monday saw its market capitalisation surpass US$100bn for the first time, says it will merge its Soso search business with its rival.