Five Chinese companies will conduct initial public offerings in China’s stock exchanges, ending an IPO freeze that lasted over a year.
The five companies: Neway Valve, Guangdong Xinbao Electrical Appliances Holdings, Truking Technology, Zhejiang Wolwo Bio-Pharmaceutical and Guangdong QTone Education have issued prospectus that are published on the Shanghai and Shenzhen Stock Exchanges’ websites.
Neway Valve plans to list on the Shanghai Stock Exchange’s main board, while Guangdong Xinbao Electrical Appliances Holdings will list on the SME board in Shenzhen. The other three companies are to be listed on the growth enterprise market in Shenzhen.
IPOs issued by China-domiciled companies raised a total of US$14.8 billion this year globally, down 43.6% from last year, the lowest since 2004 when proceeds fell to US$13 billion, according to the latest data released by Thomson Reuters.
At the end of November, China Security Regulatory Commission (CSRC) published on its website an announcement to re-open the country’s IPO market in January 2014.
The Chinese IPO market has been shut since October 2012.