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ChiNext debuts exceed expectations
By Winny Wang |
December 17, 2009, Thursday
|
Online Edition
Online Edition
VENTURE capital and private equity firms on average gained 6.77 times their investments in the second batch of eight firms that listed on China's Nasdaq-style board.
The return, based on their initial public offering price, exceeded 5.76 times for the first batch of 28 companies listed on the board, Zero2IPO Research Center said in a report today.
The average price/earnings ratio of the eight firms reached 83.59, compared with the average of 56.7 for the first batch on ChiNext, which aims to offer a financing channel for innovative start-up firms.
Five out of the eight companies were backed by six venture capital and private equity firms, the report said.
Guosen Securities Co earned the most among the six firms after its PE subsidiary this year invested in three companies - Jinlong Machinery & Electronic Co, Guangzhou Improve Medical Instruments Co and Beijing Cisri-Gaona Materials & Technology Co – to gain 5.48 times its investments in return.
Two companies invested in clean technology company Cisri-Gaona and got the highest return ratio of 9.26 times on average.
The return, based on their initial public offering price, exceeded 5.76 times for the first batch of 28 companies listed on the board, Zero2IPO Research Center said in a report today.
The average price/earnings ratio of the eight firms reached 83.59, compared with the average of 56.7 for the first batch on ChiNext, which aims to offer a financing channel for innovative start-up firms.
Five out of the eight companies were backed by six venture capital and private equity firms, the report said.
Guosen Securities Co earned the most among the six firms after its PE subsidiary this year invested in three companies - Jinlong Machinery & Electronic Co, Guangzhou Improve Medical Instruments Co and Beijing Cisri-Gaona Materials & Technology Co – to gain 5.48 times its investments in return.
Two companies invested in clean technology company Cisri-Gaona and got the highest return ratio of 9.26 times on average.
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