NEW YORK (TheStreet) -- The latest crop of Asian IPOs had mixed results on Thursday as Taiwan-based SemiLEDs Corp. (LEDS) soared in its debut but Bona Film Group Ltd. (BONA), the largest film distributor in China, got a cold reception.
It's been a busy week for China IPOs already with Youku.com (YOKU) and E-Commerce China Dangdang (DANG) both seeing heavy demand drive their shares higher. Youku.com, an Internet video broadcaster, closed Thursday at $43.80, up more than 27% for the day. It's now more than tripled from its debut price of $12.80.
E-Commerce China Dangdang's American Depositary shares priced at $16 each late Tuesday and they closed Thursday's session on the New York Stock Exchange at $32.80. The Beijing-based company is an online retailer of books and other products.
SemiLEDs lived up to the hype in its debut. The company priced 5.25 million common shares at $17 each. The stock rose as high as $27.34 on Thursday before closing at $25.76, up more than 50%, on volume of 7.3 million.It plans to use the roughly $79 million in net proceeds to expand production capacity, cover certain R&D expenses, and for general corporate purposes. Meanwhile, Bona Film priced its offering of 11.74 million American depositary shares at $8.50 each, and it never traded higher than that on Thursday. The stock dipped down to $6.45 before finished at $6.60, down 22.4%, on volume of nearly 10.6 million. --Written by Michael Baron in New York.
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