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China’s TMT Industry IPO dips in H1
It went down to 68 IPOs from 74 in H2 2021.
The public listing of Chinese technology, media and telecommunications (TMT) companies went down slightly in the first half of the year to 68, PwC reported.
This is down from 74 initial public offerings (IPOs) seen in the second half of 2021.
Despite this, the PwC noted that the total amount of financing increased to RMB160.4b.
“Driven by the domestic STAR and ChiNext markets, Chinese TMT enterprises remained relatively active in the capital market in the first half of 2022,” Jianbin Gao, PwC Mainland China TMT Industry Leader, said.
According to PwC, the domestic capital market remained as the preferred option for Mainland TMT IPOs.
Of the TMT IPOs in Mainland that listed in the domestic market, 30 opted for the STAR Market, accounting for 44% of the overall number.
A total of 19 enterprises, meanwhile, listed on the ChiNext Market in Shenzhen, making up 28% of the overall listing.
The 30 enterprises that listed on the STAR Market raised a total amount of roughly RMB70.9b, making up 44% of the total raised, whilst the 19 IPOs on the ChiNext Market in Shenzhen raised an estimated RMB27.8b. This made up 17% of all financing.
Moreover, 6 Mainland TMT enterprises or 9% chose to list on the Beijing Stock Exchange, receiving about RMB1.1b, accounting for 1% of the total financing.
Another 4 entities, equating to 6% listed on the main board, also raised RMB55.9b in financing, and 9 enterprises or 13% chose to list in Hong Kong and overseas. They received around RMB4.7billion in financing.
