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Equity · IPO
China IPO Weekly: 9 IPOs ready for subscription to raise USD 556.29 mln
CKN
2020/06/22 11:34:53
4,170

Jun 22, 2020 (China Knowledge) - Last week there were 5 companies approved by China Securities Regulatory Commission (CSRC) for subscription on the A-shares board to raise a total amount of RMB 1,600.60 mln (USD 228.66 mln). These IPOs are in the final phase of bookbuilding, price setting and for subscription. There were 4 IPOs on the SSE STAR Market (sci-tech board) raising a total amount of RMB 2,293.43 mln (USD 327.63 mln), ready for subscription.

China’s IPO market saw 6 IPO debuts last week, with 2 took place in the STAR Market, raising RMB 5.28 bln (USD 754 mln).

As of last Friday the returns of these A-shares’ IPOs were:

1. listed: 19/6 - Shenzhen Crastal Technology (300824) up 44%

2. listed: 18/6 - Wuxi DK Electronic Materials (300842) up 58%

3. listed: 18/6 - Hangzhou Juheshun New Material (605166) up 58%

4. listed: 16/6 - Chengdu Kanghua Biological Products (300841) up 92%

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 Shanghai Fudan-Zhangjiang Bio-Pharmaceutical (688505 - listed: 19/6) rose 313%, and Suzhou Jinhong Gas (688106 - listed: 16/6) up 144%.

Year-to-date IPO performance

To date there are 62 A-shares applicants lined up for listing on SSE or SZSE, with 10 approved last week for listing; 56 companies applied for STAR Market have also received approval from CSRC.

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