Chinese Internet companies Kongzhong and 51job remain determined to make their initial public offerings on the high-tech-laden NASDAQ stock market in New York, despite worries about the outlook for listed Chinese dotcoms.

Beijing-based wireless value-added service provider Kongzhong Corp have filed with the Securities and Exchange Commission, pricing its American depository shares (ADSs) between US$10 to US$12 per ADS. The company is expected to issue 10 million ADSs in its IPO, including 8 million from Kongzhong and 2 million from selling shareholders on the NASDAQ. The company is estimated to raise as much as US$120 million.

Shanghai-based 51job Inc, a staff recruitment and job seeking website in China, also said yesterday that it aimed to make an IPO on the NASDAQ and raise as much as US$90 million from issuing ADSs on the NASDAQ. However, the company did not say how many shares it will sell and when that would take place. The Shanghai-based 51job is one of the two most popular online human resource providers together with Chinahr.com. Its revenues in 2003 were US$35.44 million from online and offline human resource services, training, surveys, and software, compared with US$20 million in the previous year.

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