Chinese enterprises issued 110 deals of initial public offerings (IPO) globally in the third quarter of the year fund-raising $40.1 billion, a 147-percent increase in total proceeds from the second quarter, announced Ernst & Young (EY), one of the world's largest professional services firms Monday.
Chinese issuers alone made up over three-quarters (76%) of global fund-raising in the third quarter, while global IPOs raised a total of $52.7b in 286 IPOs, according to EY.
In 2010, IPO volumes on the Shanghai and Shenzhen stock exchanges reached their highest levels ever.
Due primarily to the Agricultural Bank of China's dual listing in Shanghai and Hong Kong in Q3, the Shanghai Stock Exchange raised the most capital ($15.6 billion), followed by Hong Kong Exchanges and Clearing ($14.0 billion) and the Shenzhen Stock Exchange ($10.0 billion)
''In upcoming quarters, Shanghai is expected to maintain its current status as the world's leading exchanger for capital raised, evidence of its growing liquidity and maturity,'' said Terence Ho, Greater China Strategic Growth Markets Leader for Ernst & Young.
Source: Global Times Related Reading
