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Mainland China's IPO size jumps over five folds in Feb

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.

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