Delisting Trumps IPOs as Valuations Fall: China Overnight

Delistings by Chinese companies that traded in the U.S. are outnumbering initial public offerings by the most in at least four years as valuations fall to the lowest since 2008.

So far in 2013, eight Chinese companies have delisted from New York exchanges, most recently 7 Days Group Holdings Ltd. on July 5, while only online retailer LightInTheBox Holding Co. has completed a U.S. IPO, according to data compiled by Bloomberg. In 2010, there were 38 IPOs and three delistings. The Bloomberg China-US Equity Index of the most-traded Chinese stocks sank 1.9 percent last week, extending declines in May and June, led by 51Job Inc. and Hollysys Automation Technologies Ltd.