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HiSoft Technology International Limited, ("HiSoft" or the "Company") (Nasdaq:HSFT), a leading China-based provider of outsourced information technology and research and development services headquartered in Dalian, China, listed on the NASDAQ Global Market on Wednesday, June 30, 2010 under the symbol "HSFT". The Company's initial public offering of 7,400,000 American Depositary Shares ("ADSs"), each representing 19 common shares of the Company, was priced at $10.00 per ADS.
"HiSoft is a leader in China's IT software outsourcing industry and we are thrilled to have yet another innovative technology company join NASDAQ OMX," said Bob McCooey, Senior Vice President of New Listings and Capital Markets, NASDAQ OMX. "HiSoft's choice of listing on the NASDAQ clearly shows that NASDAQ OMX attracts innovative and growth-oriented companies."
The International Association of Outsourcing Professionals ranked HiSoft the top Chinese company in its annual ranking. Clients include Microsoft and Oracle. The Company provides performance testing, web development and application management services. The Company's Executive Chairman, Cheng-Yaw Sun rang the opening bell at NASDAQ OMX in New York on July 7, 2010.
HiSoft is the 21st new Chinese listing and the 7th Chinese IPO on NASDAQ in 2010. Other Chinese IPOs for NASDAQ this year include, Andatee China Marine Fuel Services Corporation [AMCF]; Charm Communications Inc. [CHRM]; China Electric Motor; Inc. [CELM]; China Lodging Group [HTHT]; Dehaier Medical Systems Limited [DHRM]; and Kingtone Wirelessinfo Solution Holding Ltd. [KONE]. There have also been 10 over-the-counter bulletin board (OTCBB) upgrades and four switches this year that include China MediaExpress Holdings, Inc. [CCME]; Shengkai Innovations, Inc. [VALV]; SkyPeople Fruit Juice, Inc. [SPU]; and Winner Medical Group [WWIN].
Of the 144 Chinese companies listed on NASDAQ, 121 are from mainland China and 16 are from Hong Kong, with five from Taiwan and one from Macau. On July 1, digital mapping company AutoNavi went public on the exchange.
"Chinese companies going public look to NASDAQ OMX when considering a stock offering, due to our access to the world's largest capital market, our high listing standards and our extensive line of services," said Mr. McCooey.
The 144 Chinese listed companies include Baidu, NASDAQ's largest listed company in China and a member of the prestigious NASDAQ-100 Index(R), Asia Info, China Insure, China Real Estate Information Corporation, Changyou.com, JA Solar, Shanda Games Limited, Sohu and Sina. Global brand names like Starbucks, Google, Microsoft, Staples, Intel, Amgen, United Airlines, the Chicago Mercantile Exchange, First Solar, Apollo Group and News Corp list on The NASDAQ Stock Market.
