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People's Daily Online>>China Business

Analysts: IPOs to remain common in 2012

By Hu Yuanyuan (China Daily)

15:09, January 05, 2012

BEIJING - As much as 300 billion yuan ($47.6 billion) is expected to be raised through IPOs on the Shanghai and Shenzhen stock exchanges this year, the accounting firm PricewaterhouseCoopers (PwC) said in a report on Wednesday.

The firm forecast Shanghai A shares will attract about 40 IPOs. And the Shenzhen SME Board and ChiNext, an exchange where shares mainly of high-tech companies are traded, will attract about 260 IPOs in 2012. PwC predicted those deals will raise 270 billion yuan to 300 billion yuan.

China managed to keep its lead position in the global IPO market in 2011 as measured by the IPOs held on and the money raised by its exchanges in Shanghai and Shenzhen.

Even so, the Chinese market is being hampered by the global economy, whose recovery has been slowed by high unemployment in the United States and the European debt crises.

"Many Chinese companies are preparing for IPOs and waiting for the right time to go public," said Frank Lyn, PwC China Markets Leader.

According to Lyn, IPOs will remain common on the Shenzhen SME Board and ChiNext in 2012, and will most often originate from companies in the industrial-products, retail, consumer goods and services, information-technology and financial-services businesses.

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