Over 240 Chinese firms go public in 2015

Beijing, Oct 10 (IANS) Over 240 Chinese companies were listed on domestic and overseas exchanges in the first three quarters of the year, up 58.2 percent year on year, investment research company Zero2IPO said on Saturday.

The proceeds raised from 242 companies totalled $41.2 billion, down 10.4 percent, Xinhua news agency cited Zero2IPO as saying.

Worldwide, 631 companies went public during the period, raising $83.4 billion.

In the January-September period, 192 Chinese firms were listed on the Shanghai and Shenzhen bourses, an annual increase of 137 percent. The combined proceeds soared 172 percent to $23.2 billion.

The strong Initial Public Offering (IPO) enthusiasm came following a bull market in the first half of the year.

China Securities Regulatory Commission halted IPOs in early July as part of a suite 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 as much as 35 percent in less than four weeks starting June 15.

The bull domestic market also made fewer companies consider IPOs overseas.

Only 50 firms went public overseas, down 30.6 percent. Meanwhile, proceeds fell 51.8 percent to $18 billion.

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