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Chinese IPOs: Signs of Investor Burnout

Another big week for IPOs — 10 offerings looking to raise over $2.1 billion. Once again, Chinese IPOs are the big talk...three names coming this week:

1) Trading Wednesday: Jiayuan.com International (ticker: DATE), 7.1 m shares at $10-$12, the largest online dating platform in China (think Match.com of China)

2) Trading Thursday: Phoenix New Media (ticker: FENG), a new media company providing premium content on an integrated platform across Internet, mobile and TV channels in China, 12.768 m shares at $12-$14.

3) Trading Thursday: China Zenix Auto International (ticker: ZX), 12.9 m shares at $9.50-$11.50, the largest commercial wheel manufacturer in China.

But, have you noticed: for all the hype, Chinese IPOs recently have been great out of the gate, but have faded quickly. Are investors over-invested, unsure about the data being provided, or just unwilling to be long-term holders?

Look at the IPO performance of these recent Chinese IPOs since their first day of trading:

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Youku.com | up 76%

Dangdang | down 24%

21Vianet | down 23%

Qihoo 360 | down 20%

Renren | down 10%

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