Venture capitalist eyes US listing

An Israeli venture capitalist said last week he's close to listing a China-traded company in the US as part of an overall tech push into the world's most populous country.

By STEVE GELSI, MARKETWATCH
November 5, 2006 08:06
1 minute read.

 
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MarketWatch: In-depth global business coverage An Israeli venture capitalist said last week he's close to listing a China-traded company in the US as part of an overall tech push into the world's most populous country. Amir Gal-Or, managing partner of Infinity Venture Capital of Tel Aviv, said he's working to bring the company's stock listing to the Nasdaq, but declined to name the firm. He said the move could be finalized within the next few months. Although strict US listing standards and Sarbanes-Oxley rules have been keeping overseas companies out of the Nasdaq and the NYSE, some companies are nevertheless going public there with strong investor interest. Firms such as Baidu.com, Focus Media and recent IPOs from New Oriental Education and Home Inns & Hotels have been ringing up healthy gains. With its affiliation with Israel's largest conglomerate, IDB, Infinity is now organizing its third venture fund with designs on taking stakes in Chinese technology firms. IDB has been a frequent source of IPOs in the US, including a recent plan by Cellcom to go public there. Gal-Or said Infinity outflanks competitors by allowing the Chinese to retain more control over tech firms than others, but Infinity still takes an active role in financing and helping to improve the profitability of companies. Infinity currently manages more than $300 million with an investment portfolio of 40 companies. Some past exits include Nanomotion, Saifun Semiconductor, Iomai and Shopping.com, which was acquired by EBay for $620m. MarketWatch: In-depth global business coverage

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