Mainland to see 100-120 IPOs this year
Print Edition
THE Chinese mainland is expected to see 100 to 120 initial public offerings seeking to raise 200 billion yuan (US$30.09 billion) this year, PwC said.
The number of IPOs in the second half of the year is likely to maintain the trend in the first six months, PwC said in a report released yesterday.
They fell substantially in the first six months as only 63 IPOs were listed on the Shanghai and Shenzhen stock markets, representing a 74 percent slump from the same period last year, the report said.
The value of the IPOs also dropped 26 percent from a year earlier to 93.1 billion yuan in January to June.
Of the 63 IPOs in the first half, 36 were listed on the Main Board of the Shanghai Stock Exchange with a total value of 64.5 billion yuan, according to the report.
Data showed IPOs were predominantly from the industrial product, consumer goods and services, Internet technology and telecommunications sectors.
The number of companies waiting to list fell from 519 at the end of last year to 307 in June following the stricter approval process for A-share IPOs which led a shorter queuing time.
Looking ahead to the second half year, PwC expected the number of IPOs to maintain the trend of the first half, leading to an estimated total number of 100 to 120 IPOs for the whole year, raising around 200 billion yuan.
“We anticipate the first Chinese Depositary Receipt listing in the second half, and we predict IPOs in the A-share markets will be affected by a range of factors in addition to the strict approval process,” Lin said.
The CDR is a new mechanism to entice overseas-listed Chinese technology companies such as Alibaba to return and list on the A-share market.
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