Media Digests

IPOs by Chinese firms drop

Updated: 2011-09-02 18:05


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The number of share listings by Chinese companies worldwide fell sharply last month, compared with the first six months of the year, when Chinese companies accounted for 60 percent of initial public offerings worldwide, the Beijing Morning Post reported.

Twenty-seven companies were listed last month, a two-year low.

Nasdaq-traded Tudou, the online video website, is the only one that was listed overseas, raising $170 million.

Chinese companies overall raised 1.2 billion yuan ($188 million) last month, a 90 percent fall from a month before.

Domestic inflation pressure, local financing difficulties and debt crises in western countries are all being cited as reasons for the decreased number of floats.

By Sun Yuanqing


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