More foreign IPOs: Vindication for Sarbox?

There's been a lot of rhetoric, when it comes to the dearth of U.S. IPOs and Sarbanes-Oxley. A lot of people still think that the law all but destroyed the United States as a destination for initial public offerings. Frankly, I always thought that was an overblown argument. Those who agree with me could point to the recent IPO of Chinese video game maker Changyou.com. It priced this month on the Nasdaq and made a rather memorable debut, rising 25 percent on its first day. 

Its chairman told Reuters: "The U.S. is still the most sophisticated market, especially for technology investors." Israeli tech company N-trig is also planning a Nasdaq debut in 2010. In fairness, Chinese companies always had a stronger opinion of Sarbanes-Oxley than companies in other countries; they tended to see compliance with the law as a mark of achievement, as much as a burden.  

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