Fewer Chinese companies go public in July

Shanghai, Aug 3 (IANS) Fewer Chinese companies went public in July after the country’s stock regulator halted initial public offerings in two domestic brokerages, investment research company Zero2IPO said on Monday.

Only 19 Chinese companies launched IPOs at stock exchanges worldwide last month, raising a combined $2.03 billion, Xinhua news agency reported.

The number of IPOs in July were down 17.4 percent year on year and 64.2 percent month on month. Meanwhile, the money raised was down 38.4 percent and 89.3 percent, respectively.

Twelve companies were listed in Hong Kong, five went public in China and two were listed in the US, said Zero2IPO.

Guolian securities’ IPO was the largest, raising $457 million in Hong Kong.

The China securities regulatory commission halted IPOs early last month as part of a series of measures to stem the decline of the country’s stock market.

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