Not a rosy debut for IPOs in Q3
By Lydia Chen |
October 10, 2011, Monday
|
Print Edition
Print Edition
TURMOIL in stock markets around the world has caused a more than 71 percent plunge in funds raised from initial public offerings among Chinese firms in the third quarter.
The number of new listings has also dropped sharply over the last three months, according to a report by China Venture yesterday.
The new IPOs, mainly on the mainland markets, raised a total of nearly 72.3 billion yuan (US$11.37 billion), an annual plunge of more than 71 percent, the Beijing-based financial research firm revealed.
Ninety Chinese companies debuted in markets across the world from July to September, down 22.4 percent from a year ago, the report said.
Only 24 out of the debutants chose to go public in overseas markets and 17 of them listed on the Hong Kong Stock Exchange. Tudou, China's leading online video website, was the only IPO to debut in the United States where investors have been cautious over the prospects of Chinese firms, the report said.
The number of new listings has also dropped sharply over the last three months, according to a report by China Venture yesterday.
The new IPOs, mainly on the mainland markets, raised a total of nearly 72.3 billion yuan (US$11.37 billion), an annual plunge of more than 71 percent, the Beijing-based financial research firm revealed.
Ninety Chinese companies debuted in markets across the world from July to September, down 22.4 percent from a year ago, the report said.
Only 24 out of the debutants chose to go public in overseas markets and 17 of them listed on the Hong Kong Stock Exchange. Tudou, China's leading online video website, was the only IPO to debut in the United States where investors have been cautious over the prospects of Chinese firms, the report said.
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