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41 Chinese IPOs raise $7.1b globally

(Shanghai Daily)
Updated: 2010-02-05 11:55
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A total of 41 Chinese mainland companies launched initial public offerings in markets around the world last month to raise a combined $7.1 billion, an industry report said yesterday.

Of the total, 37 companies floated shares on the Chinese mainland, up from 28 in December, to raise $6.88 billion, Zero2IPO Research Center said in a report.

Fourteen companies launched IPOs on ChiNext, China's NASDAQ-style market that aims to finance smaller businesses, to raise $1.48 billion, and 19 companies listed shares on the Shenzhen main board to raise $2.35 billion, the report said.

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Two mainland companies listed on NASDAQ and two on the New York Stock Exchange.

Nine companies that were listed on the mainland received funds from 15 venture capital and private equity investors to raise a combined $835 million, and the investors gained an average return of 13.21 times from their investments.

Four VC and PE firms invested in two companies that listed overseas in the period and their investments helped them gain an average return of 5.04 times, the report said.

Heavy supplies of new stocks have hit the A-share market, which has fallen about 9 percent so far this year.
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