Cerebral Shangrila

Thursday, August 11, 2005

Dream debut on NASDAQ - Baidu

The joke during the dot-com boom days in the Silicon valley was , " If a company goes for an IPO with an unprouncable name as a CEO (typically an Indian name which the westerners find difficult to pronounce) , then the IPO debut used to be a great success" . Whoa , the same is now true for company names.

Little known chinese firm Baidu.com , saw its shares going through roof on its ADS (American depositary shares) debut in NASDAQ last week. The $27 share hit $151.21 during intra-day trading ! Google owns a tiny stake in the company and the general bullishness about China has resulted in such a high valuation. Who said dot-coms are dead ?


  • Wow..thats amazing...Venky ( Pittsburgh) wrote about this as well I think...!

    I didn't know about the share price though.!!

    By Blogger Narayanan Venkitu, at 3:14 PM  

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