日韩精品久久一区二区三区_亚洲色图p_亚洲综合在线最大成人_国产中出在线观看_日韩免费_亚洲综合在线一区

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Finance

Boom-bust tells IPO tale amid HK easing, mainland tightening

By Shi Jing in Shanghai | China Daily | Updated: 2018-07-23 11:04
Share
Share - WeChat
Wang Tao (left), chairman and CEO of Ping An Healthcare and Technology Co, and Peter Ma, chairman and CEO of Ping An Insurance Group Co, pose for photographs before striking a gong during a listing ceremony for Ping An Healthcare, known as Good Doctor, at the Hong Kong stock exchange on May 4. [Photo/Agencies]

In the year's first half, A-share floats slow while Hong Kong edges ahead

While first-half initial public offerings in the Chinese A-share market have slowed due to regulatory tightening, new listings in Hong Kong have surged on rules facilitating floats of companies from emerging sectors such as biotech.

In fact, the Hong Kong stock market appears set to regain its reputation as one of the world's largest IPO markets, equity mavens said.

A report from global consultancy PwC stated that first-half A-share IPOs fell 74 percent year-on-year to 63. IPO proceeds contracted too by 26 percent to 93.1 billion yuan ($13.9 billion). But IPO application approval rate is rising slowly, with the number of companies in the queue dropping from 519 at the end of last year to 307 in June.

Companies specializing in industrial products, consumer goods and services, IT and telecommunications made up the majority of A-share IPOs.

Jean Sun, assurance partner of PwC China, said brokerages and investment banks received updated IPO approval guidelines from the central regulator in June.

Under the new guidelines, companies with systemic problems will be prevented from listing, while unqualified companies will be persuaded to withdraw their IPO applications.

"The A-share market has been transformed from a high-volume arena to a quality-oriented market," she said. "After the IPO expansion in 2016 and tightening toward the end of 2017, the regulator has been pursuing more balance in IPOs."

The A-share market is seeking a structural optimization, while the Hong Kong market has seen a boom in IPOs in the first half.

Global consulting firm EY said in a report there were a record 98 IPOs in Hong Kong in the first half, up 44 percent year-on-year.

Chinese mainland companies accounted for a bulk - 19 - of Hong Kong IPOs, according to data from Shanghai-based market information provider Wind Info.

Mainland companies' IPO proceeds in Hong Kong added up to HK$36.1 billion ($4.6 billion), or 72 percent of the total.

Lawrence Lau, partner at EY Assurance Services, said the Hong Kong stock exchange's new rules, which took effect in late April, facilitate the listing of New Economy companies, especially those from the biotech sector.

This has ushered in a "new era" that regulates registration, depository, transaction and settlement aspects of listings, encouraging mainland companies to go public in Hong Kong, Lau said.

The vibrancy of the Hong Kong market will extend into the second half, according to EY. The total IPO proceeds for the full year are estimated to reach HK$200 billion.

The Hong Kong regulators' new policies will make the market very attractive to the Chinese mainland companies, and an equal or more number of New Economy players will likely list there in the second half as well, Lau said.

Vinsan Wang, operating director of online securities brokerage Tiger Brokers, said the Hong Kong market will remain attractive as the overall valuations are at a lower level, providing long-term investors a certain safety margin.

The Hong Kong bourse's new IPO policies will drive more Chinese mainland companies from the New Economy sectors to be listed there, she said.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 免费一级毛片 | 1024污视频 | 97精品国产 | 成人欧美一区在线视频在线观看 | av电影网站在线观看 | 久久免费看 | 毛片少妇爽到高潮特黄A片 六月色播 | 台湾三级无遮挡在线播放 | 一级尻逼视频 | 不卡国产一区二区三区四区 | 日本高清色惰www在线视频 | 奇米影视8888狠狠狠狠 | 国产精品二区三区 | 密室逃脱第一季免费观看完整在线 | 午夜网站入口 | 舒淇三级浴室洗澡在线观看 | 色综合久久天天综合网 | 手机在线看片国产日韩生活片 | 99在线免费观看 | 青青草原综合网 | 亚洲精品成人 | 91精品久久久久久久久久久 | 青青草原在线视频免费观看 | 日韩丝袜在线观看 | 欧美久操 | 亚洲日本一区二区三区 | 免费观看视频网站 | 亚洲欧美日韩中文综合在线不卡 | 欧美人成在线视频 | av在线毛片| 日韩加勒比 | 97成人在线视频 | 草莓视频午夜在线观影 | 久久综合网址 | 99青青青精品视频在线 | 精品一区二区在线观看视频 | 国产午夜小视频 | 午夜成人免费视频 | 日日噜噜夜夜狠狠视频buoke | 国产精品99爱免费视频 | 久996视频精品免费观看 |