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​Over one-fifth of global IPO issuances this year made by Chinese firms

Xinhua Financein CFBOND
2018-10-12 10:27

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Data recently released by Dealogic, a U.K.-based world-leading market data provider, shows that so far this year, more than 20 percent of the world's total initial public offering (IPO) issuances have been made by Chinese companies, the China Securities Journal reported Wednesday.

The proportion has grown by three percentage points from the previous year and more than doubled that for 2013, which was just 10 percent.

More specifically, Chinese companies have raised nearly 36 billion U.S. dollars through IPOs in overseas equity markets since the beginning of this year, an amount that has more than tripled compared with last year.

Roughly 70 percent of the total overseas IPO issuances made by Chinese companies so far this year were brokered by the U.S. investment banking giant Goldman Sachs, which has become the leading foreign underwriter for the overseas listing of Chinese companies.

The data reveals that Goldman Sachs has helped 46 Chinese companies go public in both domestic and overseas markets this year, including the 58.8-billion-H.K.-dollars (7.5 billion U.S. dollars) IPO of Chinese telecommunication facility manufacturer China Tower, the 33.14- billion-H.K.-dollars (4.23 billion U.S. dollars) IPO of Chinese online local life service platform Meituan Dianping, and the 42.61-billion-U.K.-dollars (5.44 billion U.S. dollars) IPO of Chinese smartphone maker Xiaomi.

"We have played a leading role in a number of high-profile IPOs launched by Chinese companies in such 'new economy' industries as biotech, media and telecommunication," said Zhu Hansong, CEO of Goldman Sachs' Chinese joint venture. "We have also seen an influx of foreign capitals into China's 'new economy' sector this year, which shows a growing interest among foreign investors in this sector."
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