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April 3, 2015

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Chinese IPOs raise US$4.9b in March

CHINESE companies raised US$4.9 billion through initial public offerings in March, a 124 percent surge from February, a report said yesterday.

The proceeds soared 130 percent from a year earlier, Beijing-based Zero2IPO Research said in the report.

The number of Chinese firms that listed on global exchanges jumped 37.5 percent from February to 33 last month, the data showed. The year-on-year jump was even more phenomenal at 560 percent.

The mainland exchanges captured 27 of the new listings while five listed on the Hong Kong exchange and one on the Nasdaq stock market in the US, the report said.

The mainland listings raked in US$3.7 billion, accounting for 75 percent of the total, while proceeds raised by Hong Kong listings totaled US$1.2 billion, or 24.4 percent of the total. The Nasdaq proceeds were too small to make a difference to the total raised.

“The Chinese mainland’s IPO market maintained a vibrant momentum last month thanks to faster approvals of new listings as the regulator pushed forward reform of the IPO system,” said Zheng Yinzhu, researcher with Zero2IPO.

The machinery manufacturing sector topped with seven IPOs last month, followed by six in the chemical materials sector and four in the auto industry, said the report.

The financial sector topped with US$1.6 billion raised while the auto industry was second with US$1.3 billion.

Orient Securities’ US$1.6 billion IPO on the Shanghai exchange was the biggest in March, trailed by Fuyao Glass Industry Group’s US$953 million offering in Hong Kong and Lens Technology’s US$251 million listing in Shenzhen.


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