China to maintain IPO trend says E&Y report

BEIJING - Chinese enterprises will continue to dominate the market for global initial public offerings (IPO) in 2011, despite a slowdown in IPO activity and the economic uncertainties at home and abroad, said the accounting firm Ernst & YoungLLP.

Chinese issuers led global IPO activity in the second quarter of this year in terms of both the number of offerings and the funds raised. In the second quarter, 108 Chinese IPOs raised a total of $20.4 billion, accounting for 28.6 percent of the global total and 31.6 percent of funds raised worldwide, according to a report from Ernst & Young.

In the first half of 2011, Hong Kong Exchanges and Clearing Ltd (HKEx) raised $23.6 billion from 35 deals, the highest fund total among the world's major stock exchanges. The Shenzhen Stock Exchange recorded 144 deals in the first half of the year, making it the top global exchange in terms of the number of deals, said the report.