Mainland to lead global IPO market recovery

China will lead the recovery of the global initial public offering (IPO) market, consultancy firm Ernst &Young (E&Y) said in its latest survey of institutional investors across the world.

The survey said China was the first IPO market to recover from the global economic downturn. Over 75 percent of the respondents said they expect the market to recover in the third and fourth quarter of this year.

The online survey was conducted among 305 institutional investors between August and early September this year.