China's A-share market saw a surge in IPOs during the first six months- PingWest

China's A-share market saw a surge in IPOs during the first six months- PingWest

China's A-share market saw a surge in IPOs during the first six months

June 24, 2021 0:11 am

As of June 23, 240 companies have raised funds through IPOs this year, with a total of 206.547 billion yuan ($31.90 billion), according to China's state-owned media Securities Times.

Details: China's A-share market saw a surge in initial public offerings (IPOs) during the first six months of 2021 amid steady capital market reform.

Data shows that 43 companies raised more than 1 billion yuan, and one of them raised more than 10 billion yuan. 82 companies raised 500 million to 1 billion yuan.

During the January-May period, funds raised via IPOs totaled 151.2 billion yuan (about $23.3 billion), the highest for the same period since 2011.

IPO activities were expected to continue robust momentum in 2021. According to CITIC Securities, China will see about 650 firms seek for IPO in 2021, with funds raised to reach 550 billion yuan ($77.23 billion).

Context: Earlier in April 2020, China initiated a pilot scheme on infrastructure real estate investment trusts (REITs) to deepen supply-side structural reform in the financial sector and enhance the capital market's capabilities in supporting the real economy.

The first batch of 9 REITs began trading on June 21, raising a total of more than 30 billion yuan ($4.63 billion).

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