Chinese mainland’s share markets welcome 227 IPOs worth US$21.6b

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January 4, 2017

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Chinese mainland’s share markets welcome 227 IPOs worth US$21.6b

By Hu Yumo | 00:01 UTC+8 January 4, 2017 |

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THE Shanghai and Shenzhen stock markets welcomed 227 initial public offerings valued at 150.4 billion yuan (US$21.6 billion) last year, according to a year-end report yesterday.

The number of IPOs in 2016 rose from 219 in the year before while last year’s IPO value fell from 158.6 billion yuan in 2015, PricewaterhouseCoopers said in its IPO market year end review yesterday.

The main board of the Shanghai exchange saw the listing of 103 IPOs, up 16 percent from 89 IPOs in 2015, worth 101.9 billion yuan last year, the report said.

Of the newly listed companies in Shanghai in 2016, financial services firms such as Bank of Shanghai and Bank of Jiangsu accounted for 33 percent of the total capital raised. The former raised 10.7 billion yuan from its IPO in 2016 while the latter netted 7.2 billion yuan.

Industrial products companies as well as consumer goods and services firms were next with 28 percent each, IT and telecommunications with 6 percent and other industries accounted for the rest.

There will be 320 to 350 newly listed companies this year and the value of the IPOs will be at 220 to 250 billion yuan, PwC estimated.

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Chinese mainland’s share markets welcome 227 IPOs worth US$21.6b

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