Baidu's(BIDU Quote) spectacular August IPO may have put some glitter on China's emerging tech industry. But when it comes to offerings for Chinese chip companies, investors are less enthused.
Actions Semiconductor(ACTS Quote), a Chinese chipmaker for MP3 players, made its Wall Street debut Wednesday and received a decidedly frosty reception. After postponing its IPO date and lowering its offering price, Actions Semi went public at $8 a share and closed at the same price, with its stock never budging higher than $8.25.
Vimicro International(VIMC Quote), another fabless semiconductor maker from China, had its own IPO two weeks earlier with even worse results -- shares opened at $10 and immediately headed south. At Thursday's market close they stood at $8.51. ...
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