IPO momentum continues to improve for TMT sector: PwC

Updated 2017-03-16 09:31:14 Global Times

There were 58 technology, media and telecommunications (TMT) IPOs in China in the second half of 2016, with total proceeds of 33 billion yuan (.77 billion), up 547 percent from the first half, a report released by consulting firm PwC showed on Wednesday.

The report said that 52 percent of those IPOs were on the Growth Enterprises Market in Shenzhen, 29 percent on the Main Board, 10 percent on the SEM in Shenzhen and 9 percent on overseas markets.

Five Chinese TMT companies went public in Hong Kong and overseas markets in the second half of 2016 with collective proceeds of about 6.4 billion yuan. This accounted for 19 percent of total proceeds, a 1,500 percent jump from the first half of 2016.

Hong Kong-listed Meitu raised HK.879 billion (8 million), accounting for 66 percent of total proceeds raised by overseas-listed Chinese TMT companies.

According to another global report released by PwC, 29 technology IPOs took place in the second half of 2016, raising a total of about .5 billion, up 21 percent and 195 percent respectively from the first half.

China had 10 of those IPOs, landing second place in IPO volume behind the U.S. of 11.

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