41 Chinese IPOs raise US$7.1b globally
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A total of 41 Chinese mainland companies launched initial public offerings in markets around the world last month to raise a combined US$7.1 billion, an industry report said Thursday.
Of the total, 37 companies floated shares on the Chinese mainland, up from 28 in December, to raise US$6.88 billion, Zero2IPO Research Center said in a report.
Fourteen companies launched IPOs on ChiNext, China's Nasdaq-style market that aims to finance smaller businesses, to raise US$1.48 billion, and 19 companies listed shares on the Shenzhen main board to raise US$2.35 billion, the report said.
Two mainland companies listed on Nasdaq and two on the New York Stock Exchange.
Nine companies that were listed on the mainland received funds from 15 venture capital and private equity investors to raise a combined US$835 million, and the investors gained an average return of 13.21 times from their investments.
Four VC and PE firms invested in two companies that listed overseas in the period and their investments helped them gain an average return of 5.04 times, the report said.
Heavy supplies of new stocks have hit the A-share market, which has fallen about 9 percent so far this year.
