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China IPO: Why Isn't Lentuo Trading Yet?

I have been asked about Lentuo International (LAS), the largest private automobile retailer in Beijing (Thursday), which priced 6.5 million at $8 but has not been released yet. This is below the price talk of 7.5 million at $11.50-$13.50.

The holdout: I am told that because it was priced below the price talk; it needs approval by the SEC to open.

There's more coming. 6 Chinese IPOs this week, next week another: iSoftStone Holding is looking to float 10.8 m shares at $11-$13. They outsource IT services.

This is a hot business (think InfoSys) and gives investors good exposure to the China growth story, both local and international companies doing business in China and need to outsource IT services.

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