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Shanghai Stock Exchange is set to lead global bourses for Listings in Jan.-Sept., Deloitte says 2022-09-09
Shanghai Stock Exchange Is Set to Lead Global Bourses for Listings in Jan.-Sept., Deloitte Says
The Shanghai Stock Exchange is poised to head the global leaderboard for funds raised in the first three quarters of this year, as China's mainland bourses help firms bank a record amount through public share offerings in the nine months, according to Deloitte.
The SSE will have completed 114 listings by Sept. 30, raising about CNY296 billion (USD42.5 billion), Deloitte wrote in a report published yesterday. The Shenzhen Stock Exchange will have concluded 140 worth CNY162.7 billion, while the year-old Beijing Stock Exchange will have wrapped up 31, bringing in CNY5.4 billion (USD775.3 million).
Mainland share sales will have raised a total of CNY464.1 billion, topping markets globally, the report said. And while the number of listings fell 23 percent in the nine months from a year earlier, the money raised rose 26 percent.
The Hong Kong Stock Exchange will rank fourth with 47 listings and HKD54.7 billion (USD7 billion).
The funds raised via mainland listings are also likely to reach a new high this year given China's economic stimulus, said Zhao Haizhou, a managing partner in Deloitte China's Capital Market Services Group.
Mainland listings may reach CNY660 billion by December, the report said.
Growth sectors are expected to attract more funding. On Shanghai's Nasdaq-style Star Market, the number of listings may be 140 to 160 this year, raising between CNY230 billion to CNY260 billion. Some 190 to 210 stocks may join Shenzhen's ChiNext market, totaling CNY190 billion to CNY215 billion.
By contrast, the main boards of the Shanghai and Shenzhen bourses will have 80 to 100 new listings in 2022, respectively, raising between CNY140 billion and CNY170 billion each. The BSE, which focuses on small enterprises, will have from 50 to 80 additions, with funding of CNY10 billion to CNY15 billion, the report said.
Among the top 10 listings worldwide, four were in Shanghai and two were in Hong Kong, per the report. No. 1 on the SSE was China Mobile Communications Group, which raised CNY52 billion. Globally, only Seoul-based battery maker LG Energy Solution has had a bigger floatation so far this year.
Some of the other big Chinese share sales were those of energy giant China National Offshore Oil, diagnostic imaging devices maker United Imaging Healthcare, computer components manufacturer Hygon Information Tech, and solar panel giant Jinko Solar.
The HKEX had two ultra-large floatations, which helped to boost the bourse's ranking. China Tourism Group Duty Free, a duty free chain store operator, raised HKD16.2 billion via a secondary share sale n Hong Kong, making it the sixth-largest globally this year. Tianqi Lithium, a battery materials producer, raised HKD13.5 billion via a second share sale on the HKEX, ranking eighth worldwide.
Source: Yicai
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