Chinese IPOs in US total 3.5 billion USD in 2010

16:59, December 22, 2010      

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As of Dec. 19, 52 Chinese companies have completed overseas Initial Public Offerings (IPOs), of which, 40 companies listed on the U. S. market, seven in Singapore, three in South Korea, one in Germany and one in the United Kingdom.

Of the 40 Chinese companies that listed on the United States, 22 listed on the New York Stock Exchange, 17 listed on the Nasdaq and one listed on the American Stock Exchange.

In 2010, Chinese companies that completed IPOs raised a total of 3.5 billion U.S. dollars in financing on the U.S. market, three times more than last year.

Mingyang Electric, and are three companies that obtained the most financing in an IPO. They received 350 million U.S. dollars, 272 million U.S. dollars and 233 million U.S. dollars in IPOs, respectively.

The year 2010 is expected to be a prosperous one for those Chinese companies that have listed on the U.S. market. An analyst from Renaissance Capital, an investment and management company in the United States, said that Chinese enterprises will continue to carry out IPOs in the U.S. market.

"Those companies performed outstandingly because investors were seeking high profit and fast-growing companies that have a clear business model," the analyst said.

According to data from Renaissance Capital, stock performance of Chinese companies was robust and favorable in the U.S. market in the third quarter, which gave a leg up to the North American IPO markets to achieve an average return rate of 27 percent.

By Li Mu, People's Daily Online
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