小编摘要：美国投资者周三再次对中国公司首次公开募股（IPO）钟爱有加，奇虎360科技有限公司（Qihoo 360 Technology Co. Ltd.，简称：奇虎360）上市首日股价飙升了近135%
美国投资者周三再次对中国公司首次公开募股（IPO）钟爱有加，奇虎360科技有限公司（Qihoo 360 Technology Co. Ltd.，简称：奇虎360）上市首日股价飙升了近135%，而美国本土私募股权投资公司阿波罗全球管理公司（Apollo Global Management LLC，简称：阿波罗）的股票却受到冷落。
American investors reignited their love affair with Chinese initial public offerings on Wednesday, sending shares of Qihoo 360 Technology Co. Ltd. soaring nearly 135% in their first day of trading, but snubbing home-grown private-equity firm Apollo Global Management LLC's stock.
Qihoo, which shot up 86% on its first trade, closed at $34 a share, up 134.5% from its initial public offering price of $14.50. The Beijing company sold 12.1 million shares at a price above its expected $10.50 to $12.50 range.
Qihoo's offering is the best-performing IPO to launch in the U.S. so far this year, and the best first-day pop since Chinese Internet television company Youku.com Inc. rose 161% in December. Youku was one of four Chinese stocks that ranked in the top five U.S. debuts last year.
Like Youku, Qihoo's business focuses on the fast-growing Internet market in China. It claims to be the third-largest Internet company in the country as measured by user base, and provides free Internet and mobile-security software to protect users' personal data. The company makes its money by sharing revenue from other third-party Internet products, such as games or group-buying websites, that are sold to its users.
奇虎360在美国IPO之前，美国投资者对于来自中国IPO的兴趣似乎已有所冷淡。中国男装制造商左岸服饰（Zuoan Fashion Ltd.）、移动应用程序供应商创博国际（Trunkbow International Holdings Ltd.）和模拟信号集成电路制造商BCD半导体（BCD Semiconductor Manufacturing Ltd.）这三个已在美国上市的中国公司周三收盘价均低于其发行价。
Prior to Qihoo's arrival, Americans' interest in Chinese offerings appeared to have cooled, with three previous deals from Zuoan Fashion Ltd., Trunkbow International Holdings Ltd. and BCD Semiconductor Manufacturing Ltd. closing below their IPO prices Wednesday.
Qihoo stole the spotlight from Apollo's larger offering of $565 million, which declined 4% in its debut. Apollo had drawn investor interest during roadshows, and ended up selling more shares than expected at the high end of its price range, but the price may have been too rich to support additional gains after it started trading, said analysts.
IPO研究网站IPOfinancial.com的总裁兼IPOfn Capital Management的执行合伙人门罗（David Menlow）说，有人以为阿波罗的发行价定在指导价区间高端，所以需求量必定很大，其实这是一种假象，而最初指导价区间预计是18至20美元。
'There was a false appearance that this deal was in high demand because it priced at the high end of its range, but this was originally supposed to be an $18-to-$20 deal,' said David Menlow, president of analysis firm IPOfinancial.com and managing partner for IPOfn Capital Management.
Apollo was about to file an updated prospectus with a price range when the markets fell after Japan's earthquake, so it delayed the filing. When the terms were set later, the range was lower than some investors had expected, at $17 to $19.
Apollo closed at $18.20, down 4.2%. The company sold 29.76 million shares, 3.6 million more than expected.
Both Apollo and Qihoo had upbeat financial data behind their offerings. Apollo's total revenue more than doubled in 2010, to $2.1 billion, and it reported net income of $94.6 million, compared to a loss of $155 million in 2009. Qihoo's total revenue rose 79%, to $58 million in 2010, while net income doubled, to $9 million.
Apollo plans to pay out a quarterly dividend using 'substantially' all its net after-tax cash flow from operations. No estimate was given for the amount it might pay out in 2011.
高盛集团（Goldman Sachs Group Inc.）、摩根大通（J.P. Morgan Chase & Co.）和美国银行/美林（Bank of America Merrill Lynch）担任阿波罗IPO的承销商，瑞士银行（UBS AG）和花旗集团（Citigroup Inc.）担任奇虎360的承销商。
Apollo's offering was managed by Goldman Sachs Group Inc., J.P. Morgan Chase & Co., and Bank of America Merrill Lynch. Qihoo's was managed by UBS AG and Citigroup Inc.
2011-04-01 15:30 编辑：icetonado