May 18, 2020 (China Knowledge) - Last week there were 2 companies approved by China Securities Regulatory Commission (CSRC) for subscription on the A-shares board to raise a total amount of RMB 2,934.36 mln (USD 419.19 mln). These IPOs are in the final phase of bookbuilding, price setting and for subscription. There were 1 IPOs on the SSE STAR Market (sci-tech board) raising a total amount of RMB 449.50 mln (USD 64.21 mln), ready for subscription.
China’s IPO market saw 2 IPO debuts last week, with 1 took place in the STAR Market, raising RMB 1.75 bln (USD 250 mln). As of last Friday A-shares’ IPO achieved the return of 92% by Shenzhen New Industries Biomedical Engineering (300832 – listed: 12/5).
For A-shares listing the IPOs’ first day debut’s shares prices are limited to 44% increment or decline, and subsequently abiding the trading rules on all stocks to limit of 10% rise or decline in a single day.
Unlike the A-shares, IPOs listed on STAR Market are not subjected to maximum price increase or decrease in the first 5-days of trading, and will also have limit up and limit down on daily trading prices but with a wider band of 20%.
Accordingly, last week the STAR Market saw IPO launch of Linkage Software (688588 - listed: 11/5) rose 333%.
Year-to-date IPO performance
To date there are 57 A-shares applicants lined up for listing on SSE or SZSE, with 7 approved last week for listing; 31 companies applied for STAR Market have also received approval from CSRC.
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