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 .

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