Trading prices of some Chinese companies are shown on a screen at the New York Stock Exchange on February 5 (YU SHUJUN)

Chinese companies have been a major force of international initial public offerings (IPOs) in the New York Stock Exchange (NYSE) and the trend will continue this year, according to Alex Ibrahim, head of NYSE’s International Capital Markets.

Many Chinese companies are considering listing in the NYSE and the exchange has already worked with some of them, said Ibrahim in a recent briefing to foreign journalists.

According to Ibrahim, last year the NYSE listed 38 companies from outside the United States, representing approximately 25-30 percent of all listings at the exchange. Major IPOs include those of Chinese electric vehicle maker Nio and Tencent Music Entertainment, both of which raised more than $1 billion.

A total of 18 Chinese companies from various industries including education, hospitality, technology, and automotive, raised more than $4 billion in proceeds last year, NYSE said in its response to the query of Xinhua News Agency.

Ibrahim said 2019 is going to be a good year and they’re seeing some transactions from China. But he didn’t reveal the exact number.

Talking about the impact of U.S.-China trade dispute on the market, Ibrahim said that the market always reacts when there’s an uncertainty, but he’s not sure that all the ups and downs in the market since last October are related to China-U.S. relations. All elements are making the market a little bit more volatile, he said.

“We’re in a wait-and-see mood,” Ibrahim said. The beginning of March will be important when a solution will be come up with. All the eyes are on Washington and Beijing to try to figure out “hopefully a solution that’ll satisfying investors and companies in both countries.”

(Reporting from New York City)

Copyedited by Craig Crowther

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