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December 13, 2016

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Home » Business » Finance

IPOs jump in second half

By Hu Yumo | December 13, 2016, Tuesday | Print Edition

THE initial public offerings in Shanghai and Shenzhen quickened in the second half of the year in terms of the number of deals and capital raised, auditing firm Ernst & Young said in a report yesterday.

EY said by the end of the year a total 164 companies, mainly financial institutions, would be listed in Shanghai and Shenzhen — 169 percent from the first half of the year. The total number of IPOs would be 225 on the mainland market. Capital raised in 2016 is expected to reach US$22.7 billion, the report said.

“The fourth quarter can be seen as a turning point as the China Securities Regulatory Commission moved to accelerate the pace of IPOs,” said Zhehui Tang of EY.

The mainland regulator started to accelerate the IPO approval process and the trend is expected to continue in the coming months.

The launch of the Shenzhen-HK stock link would also gradually draw greater participation by overseas institutional investors in the A-share market and boost market sentiment in the long run, the report said.

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