242 Chinese Companies Listed So Far This Year
A total of 242 Chinese companies were listed on domestic and overseas exchanges in the 1st 3 Quarters of this year, up 58.2% Y-Y, investment research company Zero2IPO said Saturday.
The proceeds raised from the initial public offerings totaled US$41.2-B, down 10.4%, it said.
Worldwide, 631 companies went public during the frame, raising US$83.4-B.
In the January-September frame, 192 Chinese firms were listed on the Shanghai and Shenzhen exchanges, an annual increase of 137%. The combined proceeds soared 172% to US$23.2-B.
The strong IPO enthusiasm came following a Bull Market in 1-H of the year. China Securities Regulatory Commission halted IPOs in early July as part of a suite of measures to stem the decline of the country’s stock market.
China’s benchmark Shanghai Composite Index gained 60% this year to reach 5,178.19 pts before diving as much as 35% in less than 4 weeks starting on 15 June.
The domestic Bull Market also made fewer companies consider IPOs overseas.
Only 50 firms went public overseas, down 30.6%, where proceeds fell 51.8% to US$18.B.
Have a terrific week.
HeffX-LTN
Paul Ebeling
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