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China leads global IPOs

07-14-2010 14:00 BJT

BEIJING, July 14 (Xinhaunet) -- China will continue to lead the global initial public offering (IPO) market in terms of the funds raised and the number of deals, international accounting firm Ernst & Young said in a report on Tuesday.

Mainland companies dominated the global IPO market by raising $188 billion in 495 deals on the top four bourses - New York Stock Exchange, Nasdaq Stock Market, London Stock Exchange and Hong Kong Stock Exchange - in the past decade, the report said.

"China will maintain its lead in the IPO market as more mainland companies tap overseas capital pools even as they expand their business locally," said Terence Ho, strategic growth markets and China IPO leader at Ernst & Young.

Hong Kong remains the main choice for mainland companies as a listing destination, while American bourses are the choice for small and high-growth information technology companies, Ho said.

The domestic capital markets are also becoming more attractive with more Chinese companies looking to raise funds at home than abroad. Many red-chip companies, which have businesses in the mainland but are listed overseas, are also expected to return to the home market after Shanghai launches the international board.

A woman outside Agricultural Bank of China Ltd's Shanghai branch. Agricultural Bank of China Ltd has raised $19.2 billion in the world's biggest IPO in four years.(Source: China Daily)
A woman outside Agricultural Bank of China Ltd's Shanghai branch. Agricultural Bank 
of China Ltd has raised $19.2 billion in the world's biggest IPO in four years.(Source: China Daily)

Editor:Jin Lin |Source: Xinhua

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