The Top 10 Worst Performing Stock IPOs of 2011

Following is information on the ten worst-performing IPOs of the past year.

  1. China Shengda Packaging Group (NASDAQ:CPGI): The shares were offered at $4 and recently traded at $1.18, for a decline of 70.5%.  About the company:  China Shengda Packaging Group manufactures packaging products.  The Company produces corrugated paperboards and flexo-printed and color-printed paper cartons.  China Shengda serves the food, beverage, cigarette, household appliances, consumer electronics, pharmaceuticals, chemicals, and machinery manufacturing industries, and other consumer or industrial sectors.
  2. China Xiniya Fashion (NYSE:XNY): The shares were offered at $11 and recently traded at $3.95, for a decline of 64%.  About the company:  China Xiniya Fashion Limited designs and manufactures men’s business casual and business formal apparel and accessories.  The Company’s products are sold in retail outlets.
  3. Kips Bay Medical (KIPS): The shares were offered at $8 and recently traded at $3.41, for a decline of 57.38%.  About the company:  Kips Bay Medical, Inc. is a medical device company focused on developing, manufacturing and commercializing its external saphenous vein support technology for use in coronary artery bypass grafting surgery.
  4. Mecox Lane Ltd. (NASDAQ:MCOX): The shares were offered at $11 and recently traded at $5.11, for a decline of 53.55%.  About the company:  Mecox Lane Ltd. operates an Internet commerce website.  The Company retails men’s women’s, and children’s apparel and household accessories under its own brand and third party labels.
  5. Lizhan Enviornmental Corp. (NASDAQ:LZEN): The shares were offered at $4 and recently traded at $2, for a decline of 50%.  About the company:  Lizhan Environmental Corp. manufactures, distributes, and markets synthetic leather and other fabrics from recycled leather waste, among other materials.  The Company sells its products to furniture, automotive upholstery and garment manufacturers, as well as fabric distributors.
  6. Lentuo International (NYSE:LAS): The shares were offered at $8 and recently traded at $4.17, for a decline of 47.88%.  About the company:  Lentuo International, Inc. is a non-state-owned automobile retailer in Beijing.  The Company operates franchise dealerships throughout Beijing that offer new passenger vehicles, auto parts, and accessories for sale, as well as automobile repair and maintenance services, and provide a channel for vehicle manufacturers to gather customer feedback.
  7. Global Education & Technology Group Limited (NASDAQ:GEDU): The shares were offered at $10.5 and recently traded at $5.70, fo r adecline of 45.71%.  About the company:  Global Education & Technology Group Ltd. provides education courses and related services in China with a focus on foreign language training and test preparation.  The Company operates learning centers throughout China.
  8. China Ming Yang Wind Power (NYSE:MY): The shares were offered at $14 and recently traded at $7.90, for a decline of 43.57%.  About the company:   China Ming Yang Wind Power Group Limited designs, manufactures, sells and services wind turbines.  The Company’s client base are Chinese state owned power producers.
  9. SMART Technologies (NASDAQ:SMT):  The shares were offered at $17 and most recently traded at $9.72, for a decline of 42.82%.  About the company: SMART Technologies, Inc. designs, develops and sells interactive technology solutions.  The Company produces interactive white boards where the user can access the internet, control consumer applications, write in digital ink and save and share work.
  10. FriendFinder Networks (FFN): The shares were offered at $10 and most recently traded at $5.85, for a decline of 41.5%.  About the company:  FriendFinder Networks Inc. is an Internet and technology company providing services in social networking and Web-based video sharing.  The Company operates in two segments: internet and entertainment.

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