IPOs net .5b for TMT

Updated 2017-03-16 09:01:02 Shanghai Daily

Chinese technology, media and telecom companies netted 31 billion yuan (.5 billion) in proceeds from initial public offerings in the second half of last year, more than six times the size in the first half, PwC said in a report yesterday.

“In 2017, Chinese TMT IPOs are expected to continue to rank among the top three in terms of size globally,” said Gao Jianbin, PwC China TMT leader. “As Chinese regulators speed up the approval of IPOs, we will see a significant increase in domestic public listings by TMT companies.”

In the short term, China's A-share market will continue to be a major channel for Chinese TMT companies to list shares, the report added.

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