16 Chinese IPOs raised .7b on U.S. market

Updated 2017-12-19 14:30:18 chinadaily.com.cn

The U.S. initial public offering (IPO) market rebounded, but is still behind the "historic norm".

This year, 160 companies launched IPOs that raised .6 billion, investment bank Renaissance Capital said on Monday.

The figures are higher than last year's .8 billion raised through 105 IPOs, but are lower than the .3 billion raised through 275 IPOs in 2014.

Renaissance Capital said the annual number of IPOs "historic norm" should be between 180 and 200.

Among these IPOs counted by Renaissance Capital, 15 were from China.

Moreover, according to consulting firm Dealogic, 16 Chinese companies launched IPOs on the New York Stock Exchange and the NASDAQ, raising .7 billion this year. The amount accounted for 8 percent of the total raised through IPOs.

As for the tech IPOs, 37 companies raised .9 billion this year, slightly above the .9 billion raised by 21 tech companies in 2016, and considerably below the 56 tech IPOs raised .9 billion in 2014, Renaissance Capital said.

The investment bank predicted that the number of tech IPOs will increase significantly in 2018 as some well-known tech companies, such as cloud-sharing service provider Dropbox, are planning to debut on the stock market next year.

According to news website Sina's report, the average IPO on U.S. stock market returned 21 percent this year.

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