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China IPO fundraising hits record high in 2017

Updated: Jan 9,2018 8:50 PM     Xinhua

SHANGHAI — The number and value of IPOs on China’s two bourses hit a record high in 2017, according to figures released by a Chinese financial information services company.

A total of 438 companies launched IPOs on the Shanghai and Shenzhen stock exchanges in 2017, up 93 percent year on year, according to Wind.

The value of IPOs was 230 billion yuan ($35 billion), an increase of 56 percent year on year.

The company also noted that of the 438 IPOs, 216 were listed on the main board, raising nearly 138 billion yuan, while 81 were listed on the Small and Medium Enterprises Board and 141 on the Growth Enterprises Market Board in Shenzhen, raising 40 billion yuan and 52 billion yuan respectively.

According to a report released by the accounting firm PricewaterhouseCoopers (PwC), the number of IPOs in the retail and consumer goods industries saw a big rise last year.

About 479 companies applied for the initial public offering (IPO) in the A share market in 2017, with 380 approved, Wind said.