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QINGDAO TODAY
在线翻译:
szdaily -> Business/Markets -> 
Overseas IPOs of mainland TMT firms remain hot
    2018-09-12  08:53    Shenzhen Daily

Zhang Yu

JeniZhang13@163.com

THOUGH the number of initial public offerings (IPOs) by mainland technology, media and telecom (TMT) companies in the first half of 2018 witnessed a significant drop of 47 percent to 26 from the second half of 2017, total proceeds have increased by 15 percent to 57.8 billion yuan (US$9.42 billion), PwC said in a report yesterday.

The three largest mainland TMT IPOs in the first half of this year were Foxconn Industrial Internet Co., iQiyi Inc. and Bilibili, which contributed 77 percent of the total IPO proceeds over the period.

In terms of markets, among the 26 mainland TMT IPOs in the first half of the year, 12 mainland TMT companies chose to list overseas, accounting for 46 percent of the total.

An additional 31 percent of the companies listed on the growth enterprise market (GEM) in Shenzhen, while 15 percent listed on the main board and 8 percent on the SME board in Shenzhen.

With regard to proceeds, the main board led with a collective value of 28.8 billion yuan, accounting for half of the total in the first half of 2018.

The 12 mainland TMT companies that listed overseas raised a total of 20.8 billion yuan, while the GEM and SME board in Shenzhen collected 5.1 billion yuan and 3 billion yuan, respectively.

Further analysis showed that there were 12 IPOs in the hardware and equipment sector, and the software and service sector posted 14 IPOs.

“This year, we are seeing an abundance of IPOs in Hong Kong. There have been some notable developments since July such as Xiaomi and China Tower,” said Wilson Chow, a TMT leader of PwC’s China division.

He expected a peak of TMT IPOs in Hong Kong in the second half of the year and that any continuation of Sino-U.S. trade frictions could fuel uncertainties in the IPO issuance and valuation of TMT companies.

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