Public offerings hampered by financial crisis Go back »

2008-11-13 | Shanghai

The current financial turmoil slowed flotations of Chinese companies on both domestic and overseas markets last month.

No company launched an initial public offering on the Chinese mainland last month since the country's securities regulator tightened approval regulations for new IPOs in September.
Three companies on the mainland were listed on the overseas market, half September's number.

The total number of deals closed reached 86 in the period, compared with 82 in the previous quarter but 23 fewer than a year earlier. Total investments reached US$1.03 billion, rising 51.8 percent on a quarterly basis but dropping 6.8 percent from a year earlier.

The average deal size in the market increased 18.1 percent from a year earlier to US$11.94 million. IT services, and energy and mining sectors each experienced deals worth more than US$50 million.

Source: Shanghai Daily, 12th November 2008

http://www.shanghaidaily.com/article/?id=380296&type=Business