PRZOOM - /newswire/ -
Point Roberts, WA, United States, 2005/08/09 - China-AsiaStocks.com (CAS) Reports on Recent IPO Success of Baidu.com – Growing Investor Interest in China, and Search Engine Viability Fuel IPO’s Surge..
China-AsiaStocks.com (CAS) an investor and industry news portal for the China-Asia sector and InternetSearchEngineStocks.com (ISES), a news portal for search engine stocks, report on the recent IPO success of the Chinese search engine giant Baidu.com (NASDAQ: BIDU). The stock’s performance on its first day of trading, which saw the share price more than quadruple, placed Baidu.com in the top 15 IPO’s of all time.
Experts believe that the increased interest in China’s growth potential, combined with the enthusiasm associated with Internet search technology, has helped to push this IPO higher than any US IPO in the past 5 years. Internet usage in China has grown approximately 357% since 2000 and yet the penetration rate still remains low, leading many to speculate on continued growth opportunities. According to Internet World Stats, as of June 2005 there are an estimated 103 million Internet users stemming from a Chinese population of approximately 1.3 billion, representing a penetration rate of only 7.9%. The Baidu.com IPO has also gained attention through its similarities to Google who owns 2.5% in the Company. Despite the fact that both Google and Yahoo have a notable presence in China, many see considerable value in Baidu.com as a specialist in Chinese language search, a valuable asset as the growing numbers of Chinese pages are anticipated to eventually outnumber English pages on the Web.
The CAS and ISES websites do not make recommendations, but offer unique free information portals to research news, exclusive articles, interviews, investor conferences and a growing list of participating public companies in each sector.
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