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China edged out US and Europe in IPO size
www.chinanews.cn 2006-05-16 15:42:24
Chinanews, May 16 �CThe average deal size of initial public offerings
(IPO) in China has overtaken that in the US and Europe for the first
time, with the number jumping from USD 83 million in 2004 to USD 260
million in 2005, according to a report by Pricewaterhouse Coopers.
Hong Kong stock market has become the fourth largest capital market in
the world in capital raised.
The report said such change was mainly attributed to IPOs of China
Construction Bank, China Shenhua Group Corp. and other large Chinese
enterprises launched only in Hong Kong, other than in New York or London
simultaneously.
The total amount of IPOs in China increased from USD 17.16 billion to USD
25.57 billion, with 97% of capitalisation raised from Hong Kong, while
80% of capitalisation raised in Hong Kong came from IPOs of giant
companies in Chinese mainland.
Compared with the increase in Hong Kong stock market, the size of IPOs in
NASDAQ and New York Stock Exchange dropped to USD 170 million, by 22%��
The report released on May 11 included all the IPOs on stock markets in
Shanghai, Shenzhen, Hong Kong and Taiwan.
International Finance News cited the report, saying that the trend showed
the centre of global capitalisation was shifting to Asian countries from
American and European countries.
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