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Chinese firms' IPO size down 70.6% YoY in May

Jun. 4, 2012 (China Knowledge) - A total of 20 Chinese companies launched initial public offerings in markets around the world to raise a combined RMB 2.17 billion in May 2012, according to a report by Zero2IPO Research Center.

The IPO size was down 70.6% from May 2011 and 39.2% from the previous month. The number of IPO cases declined 44.4% YoY but rose 5.3% MoM.

Of the total, 19 firms started IPOs on the mainland stock markets, raising a total for US$2.15 billion, and only one enterprise, China City Railway Transportation Technology Holdings Co<8240>, launched IPO in Hong Kong and raised US$26 million. There were still no Chinese firms listed on the overseas stock exchanges last month.

Eight enterprises floated shares on China's Nasdaq-style ChiNext board to raise a total of US$622 million, while six firms launched IPOs on the Small and Medium Enterprises Board of the Shenzhen Stock Exchange and raised US$781 million. Five enterprises were listed on the Shanghai bourse in May. Jiangsu Sunrain Solar Energy Co<603366> raised US$2.15 billion through its Shanghai IPO in May, the largest one launched by a Chinese company in the month.

Last month, nine of these IPO companies were backed by venture capital or private equity firms. Sixteen VCs and PEs booked an average return of 2.95 times after exits through IPOs.

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