Business / Markets

Fewer Chinese companies go public in July

(Xinhua) Updated: 2015-08-03 16:52

SHANGHAI - Fewer Chinese companies went public in July after the country's stock regulator halted initial public offerings in two domestic brokerages, investment research company Zero2IPO said Monday.

Only 19 Chinese companies launched IPOs at stock exchanges worldwide last month, raising a combined $2.03 billion, the company said.

The number of IPOs in July were down 17.4 percent year on year and 64.2 percent month on month. Meanwhile, the money raised was down 38.4 percent and 89.3 percent, respectively.

Twelve companies were listed in Hong Kong, five went public in the Chinese mainland and two listed in the United States, said Zero2IPO.

Guolian Securities's IPO was the largest, raising $457 million in Hong Kong.

The China Securities Regulatory Commission halted IPOs early last month amid a series of measures to stem the decline of the country's stock market.

China's benchmark Shanghai Composite Index gained 60 percent this year to reach 5,178.19 points before plunging 35 percent in one month starting June 15. It recovered lost ground following measures to prop share prices, but it resumed the losing streak over the past week.

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