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SemiLEDs Soars; Bona Film Flops

Stocks in this article: LEDS BONA YOKU DANG

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 (YOKU) and E-Commerce China Dangdang (DANG) both seeing heavy demand drive their shares higher., 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.

>To contact the writer of this article, click here: Michael Baron.

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Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

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