Chinese equities listed in New York posted their biggest daily jump in three months, buoyed by social media stocks, on signs looser monetary policy is already bolstering lending in the world’s second-largest economy.
Groupon Inc. is selling fewer shares in its initial public offering than any U.S. Internet company in the past decade, creating a higher valuation than some investors say the online-coupon provider deserves.
The first initial public offering by a Chinese company in the U.S. since August raised 39 percent less than planned as New York-listed stocks dropped last week amid concern the world’s second-largest economy is faltering.
Baidu Inc. jumped the most in nine months, leading gains in Chinese Internet companies traded in New York, after second-quarter profit at the owner of China’s largest online search engine exceeded analysts’ estimates.
Tumi Holdings Inc., the designer of black-nylon luxury travel bags, is seeking as much as $300 million in an initial public offering as retailers of higher- priced goods outpace the rest of the industry.