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Top IPOs of 2010 Share China as Theme

MakeMyTrip (MMYT) may be off its highs, but the Indian travel-destination provider has continued to hold much of its gains. Shares priced at $14 in August. At $33.85, it's up more than 140% from the IPO price. The stock has been as high as $42.

Molycorp (MCP) is the come-from-nowhere IPO that does not even have real operations. The U.S. "rare earth" company won't even have full operations until the end of 2011. China's limit in rare-earth materials, along with a new rare earth ETF, give this one a floor. Molycorp traded under its $14 IPO price and soared to $40 briefly. It's now at $33.75.

AutoNavi (AMAP) is a Chinese company that provides global positioning and navigation services for cars. That has kept its cell-phone and smartphone competition more limited compared with Garmin (GRMN) in the U.S. AutoNavi went public July 1 in the peak-selling week of summer, and shares are up over 70% at $21.55 versus its $12.50 IPO price. The low was $12.62.

The China, or Asia, theme is hard to ignore among the top IPO winners. These 100%-plus gainers are impressive.

-- Written by Jon C. Ogg of 24/7 Wall St.

24/7 Wall St. is an independent financial news and and opinion Web site focused on the U.S. and global equity markets. The site covers topics ranging from stock and sector news and market commentary to financial analysis and industry research. 24/7 Wall St.'s articles are published by the leading financial networks, including TheStreet, Marketwatch, AOL's Daily Finance, Morningstar, Smart Money and Yahoo! Finance.
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