Equity· IPO

China IPO Weekly: 10 IPOs ready for subscription to raise USD 920.31 mln

minutes 2020/07/27 08:02:48

Jul 27, 2020 (China Knowledge) - Last week there were 6 companies approved by China Securities Regulatory Commission (CSRC) for subscription on the A-shares board to raise a total amount of RMB 4,042.52 mln (USD 577.5 mln). These IPOs are in the final phase of bookbuilding, price setting and for subscription. There were 4 IPOs on the SSE STAR Market (sci-tech board) raising a total amount of RMB 2,399.66 mln (USD 342.81 mln), ready for subscription.

China’s IPO market saw 14 IPO debuts last week, with 10 took place in the STAR Market, raising RMB 18.14 bln (USD 2,591 mln).
As of last Friday the returns of these A-shares’ IPOs were:

1. listed: 24/7 - Hangzhou Shenhao Technology (300853) up 44%
2. listed: 23/7 - Jiangsu ToLand Alloy (300855) up 58%
3. listed: 22/7 - Nanjing Cosmos Chemical (300856) up 74%
4. listed: 20/7 - Miracll Chemicals (300848) up 111%

For A-shares listing the IPOs’ first day debut’s shares prices are limited to 44% increment or decline, and subsequently abiding the trading rules on all stocks to limit of 10% rise or decline in a single day.

Unlike the A-shares, IPOs listed on STAR Market are not subjected to maximum price increase or decrease in the first 5-days of trading, and will also have limit up and limit down on daily trading prices but with a wider band of 20%.

Accordingly, last week the STAR Market saw IPO launch of Wuxi Delinhai Environmental Technology (688069 - listed: 22/7) rose 47%, Earth-Panda Advance Magnetic Material (688077 - listed: 22/7) up 153%, Sunshine Guojian Pharmaceutical(Shanghai) (688336 - listed: 22/7) up 78%, Genew Technologies (688418 - listed: 22/7) up 235%, Wuxi Chipown Micro-Electronics Limited (688508 - listed: 22/7) up 349%,Qi An Xin Technology Group (688561 - listed: 22/7) up 135%,Leaguer (Shenzhen) Microelectronics (688589 - listed: 22/7) up 295%,Nanjing Vishee Medical Technology (688580 - listed: 21/7) up 123%,Cambricon Technologies (688256 - listed: 20/7) up 303%,and Jiangsu Aidea Pharmaceutical (688488 - listed: 20/7) up 156%.

Year-to-date IPO performance

To date there are 83 A-shares applicants lined up for listing on SSE or SZSE, with 4 approved last week for listing; 48 companies applied for STAR Market have also received approval from CSRC.


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