BEIJING – China saw a surge in the initial public offerings (IPOs) of technology, media and telecommunication (TMT) sectors in the second half of 2019, data from global auditing and consultancy firm PwC showed.

The number of listed TMT companies came in at 74 during the period, with the total capital raised topping 155.3 billion yuan ($22.25 billion), PwC said.

The firm attributed the IPO boom in these sectors to the launch of the sci-tech innovation board (STAR) of the Shanghai Stock Exchange, as 28 Chinese mainland TMT companies got the green light in the STAR market during the latter half of last year, accounting for 38 percent of the total.

E-commerce giant Alibaba’s secondary listing on the main board of Hong Kong stock exchange collected the largest amount of capital, followed by game-streaming platform DouYu and software provider Kingsoft.

A total of 104 Chinese mainland TMT companies got listed in 2019, a hike of 58 percent from last year, with money raised falling slightly to 178 billion yuan, data from PwC showed.

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

World stocks succumb to virus fears, Treasury yields hit record lows

LONDON (Reuters) – Global stock markets tumbled and government bonds rallied on Friday as disruptions to business from the spreading coronavirus epidemic worsened, stoking fears of a prolonged economic slowdown. European shares opened sharply lower, with travel stocks bearing the…

Oil jumps after rout on stimulus hopes, spending cuts by U.S. producers

NEW YORK (Reuters) – Oil prices jumped by almost 8% on Tuesday, bouncing from the biggest rout in nearly 30 years a day earlier, as the possibility of economic stimulus encouraged buying and U.S. producers slashed spending in a move…

ARCTIC TODAYTrout at 50 meters under the ground. A fish farm in the rock

MOSCOW, April 3. /TASS/. If you travel some 70km from Murmansk towards Finland, you’ll see how different the nature there is with more coniferous trees; tall pines and firs, just like in central Russia; and magnificent snow caps on branches — what a beauty!…

Oil drops below $60 as China virus drives demand concern

LONDON (Reuters) – Crude prices extended declines on Monday, dropping below $60 for the first time in nearly three months as the death toll from China’s coronavirus rose and more businesses were forced to shut down, stoking expectations of slowing…