New Chinese listings at record high
Print Edition
THE number of new listings by Chinese companies rose to a record high in May as regulatory approval was accelerated, an industry report revealed yesterday.
Last month, 48 Chinese firms listed on stock exchanges worldwide, up 41.2 percent from April and a nearly sixfold increase from a year earlier, Zero2IPO Research said in a report.
“Faster regulatory approvals contributed to the surging IPOs,” said Zheng Yinzhu, researcher with Zero2IPO.
Chinese mainland exchanges attracted 44 of the new listings while the Hong Kong exchange drew two listings.
The remaining two were floated on the Nasdaq stock market in the United States and the Australian Securities Exchange, according to the report.
But the US$3.5 billion raised by the 48 IPOs dropped 46.1 percent month on month and a decline of 2.7 percent year on year as small-size firms dominated the new listings, the Beijing-based research firm said.
Mainland listings took in US$3.1 billion, accounting for 89 percent of the total, while Hong Kong listings raised US$259 million, or 7.4 percent of the total.
As of May 27, the China Securities Regulatory Commission had granted IPO approvals to 143 companies this year, up from 107 in the whole of 2014.
The machinery making sector topped both deal volume and value, with 11 IPOs raising US$697 million last month. That was followed by eight biotechnology and health care IPOs that raised US$694 million.
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