This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

SemiLEDs Soars; Bona Film Flops

NEW YORK ( TheStreet) -- The latest crop of Asian IPOs had mixed results on Thursday as Taiwan-based SemiLEDs Corp. (LEDS - Get Report) soared in its debut but Bona Film Group Ltd. (BONA - Get Report), the largest film distributor in China, got a cold reception.

It's been a busy week for China IPOs already with Youku.com (YOKU - Get Report) and E-Commerce China Dangdang (DANG - Get Report) 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.

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

>To submit a news tip, send an email to: tips@thestreet.com
Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
BONA $11.34 -2.60%
DANG $6.10 -0.81%
LEDS $0.50 0.00%
YOKU $17.11 -2.80%
AAPL $112.25 -0.92%

Markets

Chart of I:DJI
DOW 16,506.31 -136.70 -0.82%
S&P 500 1,973.25 -15.62 -0.79%
NASDAQ 4,803.1620 -25.1630 -0.52%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs