Chinese firms' IPOs drop in January
By Ding Yining |
February 2, 2012, Thursday
|
Print Edition
Print Edition
THE quantity and size of initial public offerings by Chinese companies dropped in January due to sluggish stock markets and the week-long Lunar New Year holiday, according to an industry report.
Only 20 Chinese companies were listed last month, a 52 percent annual decrease, and the proceeds they raised from domestic and overseas stock exchanges plunged 84 percent from a year ago to 7.6 billion yuan (US$1.2 billion), research firm China Venture said in a report yesterday.
The value of these Chinese firms' IPOs was the lowest since the China Securities Regulatory Commission resumed listing approvals since July 2009. Capital raised from domestic listings fell 61.8 percent annually to 6.4 billion yuan last month due to the slow pace of listing approval from the CSRC.
The Chinese mainland and Hong Kong each had 10 IPOs last month.
Six of the 10 domestic newly-listed stocks fell below their offering price on the first trading day last month as investors sat on the sidelines ahead of the Lunar New Year, the report said.
Only 20 Chinese companies were listed last month, a 52 percent annual decrease, and the proceeds they raised from domestic and overseas stock exchanges plunged 84 percent from a year ago to 7.6 billion yuan (US$1.2 billion), research firm China Venture said in a report yesterday.
The value of these Chinese firms' IPOs was the lowest since the China Securities Regulatory Commission resumed listing approvals since July 2009. Capital raised from domestic listings fell 61.8 percent annually to 6.4 billion yuan last month due to the slow pace of listing approval from the CSRC.
The Chinese mainland and Hong Kong each had 10 IPOs last month.
Six of the 10 domestic newly-listed stocks fell below their offering price on the first trading day last month as investors sat on the sidelines ahead of the Lunar New Year, the report said.
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