Less IPOs seen in April

By Vera Ye | May 4, 2016, Wednesday |

Online Edition

Chinese companies raised less money through initial public offerings last month as mainland securities regulator slowed approvals of new offerings in the wake of a stock market rout.

A total of 23 Chinese companies went public worldwide last month, a 34 percent decrease from a year earlier, according to data compiled by the investment research firm ChinaVenture Investment Consulting Ltd.

Funds raised through new offerings totaled 6.38 billion yuan (US$982 million) in April, a sharp decline of 84 percent year on year, data showed.

Of the new listings last month, 11 went public on mainland stock exchanges, raising an aggregated of 3.75 billion yuan, falling 63 percent and 76 percent respectively on annual basis.

“China Securities Regulatory Commission, mainland’s stop securities regulator, managed the pace of new share sales in a bid to maintain market stability after the stock market rout,” said Liu Menghan, researcher of ChinaVenture, “ The regulator approved smaller number of IPOs and kept the financing of each IPO within a certain range.”

Hong Kong stock exchange saw 10 Chinese listings last month, more than doubled from the same period last year, but total raised fund shrank by 92 percent to 1.85 billion yuan, data showed.

There were two overseas listings, with one floating in the US and the other on Australian exchange.

Manufacturing sector came out on top in terms of both IPO value and volume, followed by financial industry and automobile sector, according to the data.

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Less IPOs seen in April

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