SHANGHAI - The number of companies seeking to go public in mainland China has jumped to about 580, a three-year high, encouraged by a slew of market reforms and a bumper year for equity financing in 2019.
The combined number is double levels a year earlier, and the most since 2016, when there was a long queue of IPO hopefuls after officials shut down entry into the market for four months following a string of boom-and-bust listings. Some 200 Chinese companies have listed on the mainland this year, almost doubling from the total for 2018, and money raised jumped 82% to a seven-year high of 252.8 billion yuan , EY said.
Keen to reduce the Chinese economy’s heavy reliance on bank lending, policymakers are likely to continue with reforms in 2020, with Shenzhen’s star-up board ChiNext expected to be revamped in an effort to replicate the STAR Market’s success.
Insane to buy these
They had a lot of help from corporate-bought US politicians’ Jobs Acts Revision & tax reform laws.