Categories: Economy

China’s A-share market sees IPO boom in July

Initial public offerings (IPO) in China’s A-share market continued apace last month over advanced capital market reform, Shanghai Securities News reported Tuesday.

In July, IPOs in the country’s A-share market raised a record amount of 109.81 billion yuan (about 15.73 billion United States dollars), surpassing 100 billion yuan in a single month the first time, said the paper.

A total of 52 firms were listed in July, accounting for 30 per cent of the total number of IPOs in the first seven months of 2020, which stood to 169.

In breakdown, the main board of the Shanghai Stock Exchange attracted 35 listings while the Growth Enterprise Market of the Shenzhen Stock Exchange hosted 43 IPOs from January to July, the paper reported.

Meanwhile, the STAR market, or the sci-tech innovation board of the Shanghai Stock Exchange, saw 73 companies listed during the same period.

The stock market posted stronger gains amid the robust IPO activities, the paper reported in July, the benchmark Shanghai Composite Index, Shenzhen Component Index and ChiNext Index, China’s NASDAQ-style board of growth enterprises, went up 10.9 per cent, 13.72 per cent and 14.65 per cent, respectively.

Experts say that sufficient liquidity has created conditions for high-quality companies in different industries to raise funds in the A-share market, thus directing funds from the capital market to the real economy.

Edited By: Dorcas Jonah/Wale Ojetimi (NAN)

NNN

is a graduate and a professionally trained journalist, with experience in national news reporting/editing and verification at the News Agency of Nigeria. NNN is a media subscriber of the News Agency of Nigeria. NNN is a Nigerian online news portal that publishes breaking news in Nigeria, and across the world. Our journalists are honest, fair, accurate, thorough and courageous in gathering, reporting and interpreting news in the best interest of the public, because truth is the cornerstone of journalism and they strive diligently to ascertain the truth in every news report. Contact: editor[at]nnn.ng. Disclaimer.

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