Chinese IPOs to Reach Annual Record – Sundeep Tucker

, worth more than $1 trillion, surged past Exxon Mobil as its shares nearly tripled in their first day of trading in Shanghai. went public in Hong Kong Stock Exchange on Nov. 6th, with a market cap of $8.8 billion. The Chinese , IPOs and stock prices are once again the focus of the global market. The value of mainland China’s public offerings for this year hit a record $61bn (‚Ǩ42bn, ¬£29bn) this week, leaving New York, London and Hong Kong trailing in its wake. However, western financial celebrities Alan Greenspan and Warren Buffet both warned about of China’s stock market.

From the Financial Times:

According to Dealogic, eight of the top 10 mainland IPOs have occurred this year. In September, the listing of China Shenhua Energy raised $8.8bn while China Construction Bank raised $7.7bn.

Among the IPOs still to come is China Railway Group, a unit of China Railway Engineering Corp , which is preparing a Shanghai and Hong Kong listing next year that is likely to raise up to $4bn.

The Financial Times reported last week that at least seven Chinese shipbuilders are planning share offerings on mainland or overseas bourses to raise development capital. [Full Text]

November 5, 2007 9:38 AM
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Categories: Economy