Busy week for market as 22 companies set to raise funds

This week will be the busiest for initial public offerings in the A-share market since new listings resumed a year ago in the Chinese mainland, with 22 companies set to raise about 12.2 billion yuan ($1.97 billion).

On Monday, two companies that will issue IPOs on the Shanghai Stock Exchange began online subscriptions.

Spring Airlines Co Ltd, the nation's first privately owned budget carrier, issued 100 million shares (40 million online) at 22.96 yuan, for a price-earnings ratio of 22.96.