SHANGHAI. SAT 2 July 2011 7: 41 am EDT
SHANGHAI (Reuters) - market despite China slowed down by a fifth in the first half of 2011 in a lack of mega deals that hit the market the previous year, with fundraisings dominated by small businesses, a trend that analysts said could last for a few months.
In the first six months, only about one-tenth of the companies who are looking for a list had chosen to do on the Shanghai Stock Exchange, while the rest went to the smaller Shenzhen award, which is home to the Nasdaq - style ChiNext.
Shanghai lethargic IPO market had pushed into the lower total product Pit grew up in mainland China of 20 per cent of data by Thomson Reuters has shown, there is a year to $ 24 billion in the first half of the year.
The trend may last longer, pending the launch of the long-awaited International Commission to allow multinational quality as HSBC (HSBA.)(L) and Coca Cola (KO.)(N) to sell shares to domestic investors, analysts said.
"It there will be more great IPOs coming on the market, especially if you take into account the Council of international administration, which we believe will be launched in the next six to 12 months," said of Xuefeng Cao, head of research at Huaxi Securities in the South West of Chengdu city.
The two largest IPOs in Shanghai this year have Sinovel 1.4 billion (601558.SS) IPO wind and the 710 million IPO of Pangda Automotive Trade (601258.SS).
That pales compared to the stock exchange Hong Kong who had seen a string of prestige IPOs this year, including products trader Glencore (0805.HK) 10 billion dollars and the Italian fashion house Prada (1913.HK) providing $ 2.1 billion.
MORE SMALL INVESTMENT BANKS SHINE
In Shenzhen, 136 companies raised a total of $ 16.6 billion on the ChiNext and the Council to SMEs in the first half, cash for more than two-thirds of the total product raised in mainland China.
The boom of fundraising on the Shenzhen Stock Exchange helped lift investment banks based in Shenzhen, Guosen and Ping An securities values for the top spots of the China IPO league table.
Guosen Securities obtained the position of n ° 1 in the first half of 2011, the 18 trafficking clinching a combined value of 2.8 billion dollars, data from Thomson Reuters deal showed. Guosen was ranked third in the same period last year.
Ping An Securities, a unit of Ping An Insurance (601318.SS) (2318.HK), has maintained its position as no. 2 with 17 offers 2.1 billion.
Swiss Bank UBS (UBSN.)(VX) ranked fifth with two agreements 1.2 billion. UBS is the underwriter of the IPO Pangda manufacturer BYD (002594.SZ) list of Shenzhen.
The Chinese joint venture of Deutsche Bank (DBKGn.DE), which has dealt with the case Sinovel, the only IPO he deal had dans first half, was ranked 11th.
China was largest IPO market of the world in 2010, with 347 companies, including the agricultural Bank of China (601288.SS) (1288.HK) and Everbright Bank (601818.SS) raising nearly 490 billion yuan by the part of the first sales in the market of the action of the was.
The Chinese Government said yet when the international Board will be launched, but expectations were running high in recent weeks an ad may soon.
Shang Fulin, Chairman of the Securities Regulatory Commission China told a financial forum in Shanghai last month that the international Board "comes closer and closer to us."
Volatile market recent conditions around the world have prompted talk that the launch of the Commission may be put on hold, but Cao of Huaxi said was little likely given that seeks China to promote the overall profile of the yuan currency.
"The international Board reflects the strategic interests of China, I think that any decision on the Board of Directors is less likely to be influenced by factors of the market," said of Cao to Huaxi securities.
(Editing by Kazunori Takada and Daniel Magnowski)
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