Mainland Markets See Rush For IPOs In 1st Four Trading Days
By Lydia Chen |
January 5, 2011, Wednesday
|
Print Edition
Print Edition
THE first four trading days of this year are expected to see the debut of 11 new listings on the Chinese mainland markets.
The first batch of newcomers, the most within 15 months, is due to come onto the two mainland markets from yesterday till Friday, compared to a frequency of an average of nine new listings weekly last year.
The new listings this week will reap a total of more than 15.5 billion yuan (US$2.49 billion) from investors while nearly one trillion yuan in the market will subscribe to these IPOs, said Zhang Xiang, an analyst with Guodu Securities Co.
Five of the listings will be on the Nasdaq-style ChiNext board. Four will debut on the small- and medium-sized enterprise board and the remaining two will list on the main boards.
"The quicker release of new shares will not affect the markets in the short term," Zhang told Shanghai Securities News. However, prices of the small firms may be curbed with IPOs flooding in the long run."
The mainland markets were tops for IPOs issued last year as 349 companies debuted and raised nearly 480 billion yuan, both world records. But 26 of last year's listings fell below the IPO price on debut. Average annual price gains by last year's new shares shrank to 56.02 percent from 110.37 percent in 2009.
The IPO records are likely to be broken this year when over 400 firms are likely to list and to raise more than 600 billion yuan, Ernst & Young predicted in an earlier report.
The first batch of newcomers, the most within 15 months, is due to come onto the two mainland markets from yesterday till Friday, compared to a frequency of an average of nine new listings weekly last year.
The new listings this week will reap a total of more than 15.5 billion yuan (US$2.49 billion) from investors while nearly one trillion yuan in the market will subscribe to these IPOs, said Zhang Xiang, an analyst with Guodu Securities Co.
Five of the listings will be on the Nasdaq-style ChiNext board. Four will debut on the small- and medium-sized enterprise board and the remaining two will list on the main boards.
"The quicker release of new shares will not affect the markets in the short term," Zhang told Shanghai Securities News. However, prices of the small firms may be curbed with IPOs flooding in the long run."
The mainland markets were tops for IPOs issued last year as 349 companies debuted and raised nearly 480 billion yuan, both world records. But 26 of last year's listings fell below the IPO price on debut. Average annual price gains by last year's new shares shrank to 56.02 percent from 110.37 percent in 2009.
The IPO records are likely to be broken this year when over 400 firms are likely to list and to raise more than 600 billion yuan, Ernst & Young predicted in an earlier report.
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