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World market tumble batters Chinese listings
By Lydia Chen |
October 9, 2011, Sunday
|
Online Edition
Online Edition
GLOBAL stock markets turmoil has led to a shrinking initial public offering market among Chinese firms in the third quarter with both the number of new listings and the amount of raised capital tumbling sharply over the three months.
A total of 90 Chinese firms debuted in markets across the world from July to September, down 22.4 percent from a year ago, according to a report by China Venture today.
The capital raised from these new listings, mostly in mainland markets, added to a total of nearly 72.3 billion yuan (US$11.4 billion), a more than 71 percent decrease from a year earlier, the Beijing-based financial research firm added.
Only 24 out of the new debutants chose to go public in overseas markets and 17 of which got listed in the Hong Kong Stock Exchange while Tudou, China's leading online video website, was the only one debuting in the United States where investors have been cautious for the prospects of Chinese firms following repeated accounting scandals among China-concepts, the report said.
For those listed in the mainland markets, the Shenzhen Stock Exchange again beat its rival in Shanghai.
A total of 57 firms went public on the small-and-medium-sized enterprise board and the start-up ChiNext board in Shenzhen, compared with only nine firms coming to Shanghai, the mainland's bigger securities market, the report said.
A total of 90 Chinese firms debuted in markets across the world from July to September, down 22.4 percent from a year ago, according to a report by China Venture today.
The capital raised from these new listings, mostly in mainland markets, added to a total of nearly 72.3 billion yuan (US$11.4 billion), a more than 71 percent decrease from a year earlier, the Beijing-based financial research firm added.
Only 24 out of the new debutants chose to go public in overseas markets and 17 of which got listed in the Hong Kong Stock Exchange while Tudou, China's leading online video website, was the only one debuting in the United States where investors have been cautious for the prospects of Chinese firms following repeated accounting scandals among China-concepts, the report said.
For those listed in the mainland markets, the Shenzhen Stock Exchange again beat its rival in Shanghai.
A total of 57 firms went public on the small-and-medium-sized enterprise board and the start-up ChiNext board in Shenzhen, compared with only nine firms coming to Shanghai, the mainland's bigger securities market, the report said.
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