Investing

Asia markets: China opens the IPO floodgate

An investor observes stock market at a stock exchange hall in Beijing.

Investor confidence may slowly be building in Chinese equity markets, after a hugely volatile year. When the current week is over, 10 new publicly traded companies will have joined the markets in Asia’s biggest economy.

“Chinese stock markets have been relatively calm in recent weeks, and as a result, the government has started to lift some of the restrictions introduced during the depth of the equity market collapse, including the freeze on IPOs and a ban on share sales,” said Chang Liu, China economist at Capital Economics.

Some of the companies going public this week include Jiangxi Fushine Pharmaceutical, Shenyang Toly Bread, Shenzhen Qixin Construction, Chungsin Technology Group and Henan Thinker Automatic Equipment, among others.

According to Renaissance Capital’s chairman, Kathleen Smith, the largest of this recent batch of approvals is Henan Thinker Automatic, which hopes to raise $208 million. The rest are small IPOs, below $100 million.
[“source -cncb”]

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