Tags: IPO | China | sales | PwC

China IPOs May Raise $41.3 Billion as Sales Resume, PwC Predicts

Thursday, 02 Jan 2014 11:05 AM

Chinese initial public offerings may raise as much as 250 billion yuan ($41.3 billion) this year as the securities regulator ends a more than yearlong freeze on domestic first-time share sales, PricewaterhouseCoopers LLP said.

About 260 smaller companies may sell shares in Shenzhen this year to raise a combined 150 billion yuan, the accounting firm said in a statement distributed at a press briefing in Shanghai today. Another 40 companies may list on Shanghai’s main board this year and raise 100 billion yuan, PwC said.

China’s move toward a U.S.-style registration system for IPOs will result in a better supervised and healthier market, which will help ensure investor confidence, PwC China and Hong Kong Markets Leader Frank Lyn said in the statement. The country, the world’s largest IPO market in 2010, hasn’t had an initial public offering since October 2012 as the government drafted rules aimed at curbing price manipulation.

“The new IPO rules set a level playing field,” PwC China Assurance Partner Jean Sun said at the briefing. “We may have a close-to-record year for IPOs.”

Chinese manufacturing, consumer and technology companies will be the most active in raising funds through first-time share sales this year, PwC said in the statement. More than 700 companies have applied for listings and are waiting for approval from the China Securities Regulatory Commission.

A record 349 companies completed initial public offerings in China in 2010, raising 488.3 billion yuan, according to PwC.

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Chinese initial public offerings may raise as much as 250 billion yuan ($41.3 billion) this year as the securities regulator ends a more than yearlong freeze on domestic first-time share sales, PricewaterhouseCoopers LLP said.
IPO,China,sales,PwC
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2014-05-02
Thursday, 02 Jan 2014 11:05 AM
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