Reported 8 months ago
Due to a sluggish market and strict supervision by the China Securities Regulatory Commission, IPO activities in the mainland Chinese stock market slowed down in the first half of this year. An Ernst & Young report revealed that 44 companies went public in mainland China, raising 32.9 billion yuan, marking a 75% and 84% decrease in the number of IPOs and funds raised, respectively. The report also indicated a decrease in the number of companies in the IPO queue, with 97% of terminations being voluntary withdrawals. With regulatory policies tightening and the government raising listing requirements, the IPO ecosystem is expected to undergo transformation, according to professionals. Additionally, Deloitte's latest report estimated a 70% decrease in both the number of A-share IPOs and funds raised in the first half of the year. Hong Kong stocks also experienced restraint in the issuance and fundraising amounts due to high interest rates and a slowing global economy.
Source: YAHOO