19 Chinese companies complete July IPOs
Print Edition
FEWER Chinese companies went public last month after the country’s stock regulator halted initial public offerings on two exchanges, Zero2IPO said yesterday.
Just 19 Chinese companies launched IPOs at stock exchanges worldwide last month, down from 23 in July last year and 53 in June, the research firm said.
The 19 offerings raised a combined US$2 billion, down 38 percent from a year earlier and 89 percent from June, it said.
Of the total, 12 companies floated in Hong Kong, five in the Chinese mainland and two in the United States, Zero2IPO said.
Guolian Securities’s IPO in Hong Kong was the largest, raising US$457 million.
The China Securities Regulatory Commission halted IPOs early last month amid a series of measures to stem the decline of the country’s stock market.
China’s benchmark Shanghai Composite Index gained 60 percent this year to reach 5,178.19 points before plunging 35 percent in one month starting June 15.
It recovered lost ground following measures to prop share prices, but it resumed its losing streak over the past week.
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