Chinese public listings drop in January

By Vera Ye | February 3, 2015, Tuesday |

Online Edition

A TOTAL of 29 Chinese companies launched initial public offerings on exchanges worldwide last month, raising an aggregated US$2.2 billion, an industry report said today.

The number of new listings fell 17.1 percent from a month earlier while total proceeds reduced by 84 percent, according to a report by the Beijing-based Zero2IPO Research Center.

Among them, 22 went public on mainland exchanges, the most since the IPO market here was resumed from a suspension in June last year, raising US$2 billion, or 90 percent of the total, data showed.

They included 12 on the Shanghai bourse, three on the Small and Medium Enterprises Board in Shenzhen and seven on the ChiNext board.

“Mainland’s market is expected to see around 400 IPOs this year as the China Securities Regulatory Commission has speeded up approvals of new listings to 30 to 40 per month,” said Zheng Yinzhu, researcher with Zero2IPO.

The CSRC last Friday granted the green light to 24 companies to go public, bringing the total approvals in January to 44.

Machinery manufacturing sector saw four IPOs last month, the most among all sectors, while chemical raw materials and processing and automobile industries tied for second with three new listings respectively.

Chinese companies completed seven overseas listings last month, with six in Hong Kong and one in Alternative Investment Market, which is a sub-market of the London Stock Exchange for smaller companies, data showed.

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Chinese public listings drop in January

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