Chinese listings on Nasdaq may double

NASDAQ OMX Group said the number of Chinese companies that list on its exchange could double in as little as two years, fueled by a growing appetite for these shares from a wider range of United States institutional investors.

Three of the top 10 performing initial public share offerings in the US this year are Chinese firms and all listed on Nasdaq, Robert McCooey, the head of global listings and a senior vice president, told Reuters in an interview yesterday.

"The US investor, especially on the institutional side, is very receptive to Chinese companies," said McCooey, referring to IPOs such as those from video games maker Changyou.com Ltd and Lihua International Inc.

Highlighting that broader appeal, mainland firms are now taking their roadshows to US cities outside of the traditional stops in New York, San Francisco and Chicago, he said.

"They are going to Milwaukee, Minneapolis and St Louis," McCooey said.

Chinese firms are not just attracting the attention of portfolio managers focused on China, but also those eyeing more generally global growth businesses across a broad range of industries, McCooey said.

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