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Tuesday, December 18, 2018, 18:03
IPOs 'to raise over US$20b' on China's A-share market in 2019
By Xinhua
Tuesday, December 18, 2018, 18:03 By Xinhua

In this undated photo, an investor checks stock prices at a brokerage in Fuyang, Anhui province, China. (LU QIJIAN / FOR CHINA DAILY)

BEIJING – Initial public offerings (IPOs) are expected to raise 140 billion yuan (about US$20.3 billion) to 170 billion yuan on the Chinese mainland stock market next year, according to a report from auditing and consultancy firm Deloitte China.

Funds raised through IPOs on the market in 2018 are likely to reach 140.2 billion yuan, the Deloitte China report estimated

Around 110 to 150 companies are expected to go public on the A-share market in 2019, the China Securities Journal cited the report as predicting.

This year, funds raised through IPOs on the market are likely to reach 140.2 billion yuan, the report estimated. That would be a 39-percent decline from 2017.

READ MORE: A-share market to open up further

Though the IPO reviews have become stricter than before, continuous reforms have made it easier for companies to access financing on the capital market, the newspaper quoted Tong Chuanjiang, a Deloitte China representative in charge of A-share IPO business for northern China, as saying.

New listings on the A-share market are likely to get a boost from factors such as the government's decision to launch a science and technology innovation board in Shanghai and experiment with a registration system for listed companies, Tong said.

ALSO READ: FTSE considers A shares inclusion

In 2019, most newly-listed companies would be small- and medium-sized manufacturers, technology firms and enterprises in the consumption sector, according to the report.

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