After Hiatus Chinese IPOS Off To Great Start

Four mainland Chinese IPOs drew huge demand after a four month hiatus on offerings, with auto parts maker Shanghai Lianming Machinery attracting interest around 515 times the amount on offer in the online portion of its sale.

This year saw the resumption of mainland Chinese listings after a 14 month drought imposed by regulators who were concerned about overpricing. But after a two month flurry of activity, no offerings were approved until last week, when seven firms got the go-ahead.

The four companies raised a total of 1.8 billion yuan ($290 million), according to statements from the firms published on the Shanghai and Shenzhen stock exchanges.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza