BEIJING, Jan. 5 -- Funds raised through China's IPOs (initial public offerings) will soar 73 percent to exceed 320 billion yuan ($46.86 billion) this year, as companies anticipate that the IPO markets in Shanghai and Shenzhen will continue to pick up in the first half of 2010, PricewaterhouseCoopers (PwC) said in a report today.
"Along with the further growth in domestic demand and GDP, many Chinese companies are ready and waiting to get listed on the Shanghai and Shenzhen stock exchanges this year," said Frank Lyn, who leads the China Markets division for PwC.
"Financial services, infrastructure, industrial products, consumer goods and retail sectors will continue to be the key drivers of the China IPO market in 2010," he said.
According to the PwC report, the number of new listings might reach 145, including 15 listings in Shanghai and 130 on the Shenzhen SME Board and ChiNext.
In 2009, the combined total of IPO funds raised on the Shanghai and Shenzhen stock exchanges was 185.6 billion yuan, an increase of 79 percent from 2008, according to the report.
The total number of IPOs on the two stock exchanges was 97, including nine in Shanghai and 88 in Shenzhen – a 26 percent increase from the previous year, even though there were no IPOs in Shanghai and Shenzhen in the first half of 2009.