5 global firms to debut on new board
By Zhang Fengming |
January 5, 2010, Tuesday
|
Print Edition
Print Edition
PRICEWATERHOUSE-COOPERS said yesterday it expects five international companies to be listed on the international board of the Shanghai Stock Exchange as they seek to raise a combined 100 billion yuan (US$14.64 billion).
Based on its own research, the accounting firm said it views 2010 as a good time for the international board to start.
Overseas companies like HSBC Holdings Plc have shown interest to be listed on the international board in Shanghai.
China is poised to launch the international board on the Shanghai exchange as part of efforts to turn the city into an international finance hub.
The Chinese mainland's market for initial public offerings is expected to grow this year due to ample liquidity, PwC said.
The firm forecast total funds raised through IPOs in Shanghai and Shenzhen this year will exceed 320 billion yuan, a 72 percent jump from 2009's, as it expects the market to continue its recovery in the first half.
The total number of new listings may reach 145, including 15 in Shanghai and 130 on Shenzhen's small and medium enterprise board and ChiNext, the board for start-up companies.
Financial services, infrastructure, industrial products, consumer goods and retail sectors will drive the China IPO market this year, said Frank Lyn, a PwC partner.
China is the world's biggest IPO market with a combined 400.2 billion yuan raised in Shanghai, Shenzhen and Hong Kong.
Based on its own research, the accounting firm said it views 2010 as a good time for the international board to start.
Overseas companies like HSBC Holdings Plc have shown interest to be listed on the international board in Shanghai.
China is poised to launch the international board on the Shanghai exchange as part of efforts to turn the city into an international finance hub.
The Chinese mainland's market for initial public offerings is expected to grow this year due to ample liquidity, PwC said.
The firm forecast total funds raised through IPOs in Shanghai and Shenzhen this year will exceed 320 billion yuan, a 72 percent jump from 2009's, as it expects the market to continue its recovery in the first half.
The total number of new listings may reach 145, including 15 in Shanghai and 130 on Shenzhen's small and medium enterprise board and ChiNext, the board for start-up companies.
Financial services, infrastructure, industrial products, consumer goods and retail sectors will drive the China IPO market this year, said Frank Lyn, a PwC partner.
China is the world's biggest IPO market with a combined 400.2 billion yuan raised in Shanghai, Shenzhen and Hong Kong.
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