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Economy

IPOs likely to raise 320 bn yuan in 2010

(Xinhua)
Updated: 2010-01-05 01:26

BEIJING: Chinese companies?are likely to raise more than 320 billion yuan (46.87 billion US dollars) from initial public offerings this year on the domestic stock market, up from 185.6 billion yuan in 2009, PricewaterwatchCoopers (PwC) said in a report released Monday.

China's IPO market would see 145 new listings in 2010, with 15 listings in Shanghai and the rest on the Shenzhen bourse's Small and Medium Enterprise board and ChiNext, the country's Nasdaq-style board established in October, according to the report.

Whole year IPOs in 2009 reached 97, up 26 percent from that in 2008, as the securities regulator resumed IPOs after a nine-month ban in June.

China became the world's second largest listing market in 2009, as a combined market value from both Shanghai and Shenzhen stood at 23.6 trillion yuan, said the report.

Financial service, infrastructures, industrial products, consumer goods and retail sectors will continue to be key driving forces to the country's IPO market in 2010, Frank Y.C. Lyn, PwC's China Markets Leader, was quoted in the report as saying.