Mar. 2, 2012 (China Knowledge) - There were 17 initial public offerings in Shanghai Stock Exchange
and Shenzhen Stock Exchange
last month with a total fundraising of RMB 17.38 billion, soaring more than five folds from RMB 2.75 billion in January.
Three of the 17 firms each raised more than RMB 1 billion. China Communications construction Co<601800> raised RMB 7.29 billion, while JiShi Media Co Ltd<601929> RMB 1.96 billion and Beijing
WKW Automotive Parts Co<002662> RMB 1.5 billion. Shanghai-listed
China Communications construction, which is principally engaged in infrastructure construction and controlled by the State Council
, reaped RMB 11.37 billion in net profit last year.
Only one of the 17 companies had more than 40 times in price/earnings ratio. The P/E ratio of JiShi Media Co Ltd<601929> was 37.19, Beijing
Leadman Biochemistry Co Ltd<300289> at 37.14, Beijing
SDL Technology Co<002658> 35.98 and Guiyang
Longmaster Information & Technology Co Ltd<300288> 34.
Last month, 13 securities firms were assigned as underwriters for 19 IPOs with a total revenue reaching RMB 400 million. Minsheng Securities Co Ltd handed the most with three IPO projects last month and realized RMB 31.95 million in combined revenue, sources reported.