Firms' huge IPO thirst
By Winny Wang |
October 23, 2010, Saturday
|
Print Edition
Print Edition
Chinese mainland companies accounted for four-fifths of the US$46.39 billion raised in initial public offerings on major global stock markets in the third quarter, according to Zero2IPO Research Center.
Proceeds from IPOs in the July-September period surged 28.3 percent from a year earlier, according to the firm's survey of 16 major markets across the world. It said 165 companies held initial share offerings.
Of that number, 109 Chinese mainland companies raised a combined US$36.96 billion in the latest quarter. The figures were swelled by the dual listing of the Agricultural Bank of China in July.
Eighty-four companies listed on mainland markets, raising US$24.11 billion, the report said. The remaining 25 Chinese companies listed in offshore markets.
The sizzling IPO market helped shore up the performance of domestic brokerages in the third quarter.
Thirteen brokerages listed on the Chinese mainland reported combined net income of 8 billion yuan in the third quarter, compared with 5.08 billion yuan in the second quarter.
Proceeds from IPOs in the July-September period surged 28.3 percent from a year earlier, according to the firm's survey of 16 major markets across the world. It said 165 companies held initial share offerings.
Of that number, 109 Chinese mainland companies raised a combined US$36.96 billion in the latest quarter. The figures were swelled by the dual listing of the Agricultural Bank of China in July.
Eighty-four companies listed on mainland markets, raising US$24.11 billion, the report said. The remaining 25 Chinese companies listed in offshore markets.
The sizzling IPO market helped shore up the performance of domestic brokerages in the third quarter.
Thirteen brokerages listed on the Chinese mainland reported combined net income of 8 billion yuan in the third quarter, compared with 5.08 billion yuan in the second quarter.
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