China remained the world's biggest initial public offering (IPO) market in 2011, said PricewaterhouseCoopers (PwC).
Chinese firms raised a combined 286.1 billion yuan ($45.5 billion) via 282 IPOs in Shanghai and Shenzhen in 2011, 41 percent less than in 2010. A number of companies postponed their IPOs or slashed their fundraising target due to tepid demand.
PwC forecast that China's IPO market would remain at the same level in 2012, raising 270 billion-300 billion yuan ($42.65 billion-$47.39 billion).
"Many Chinese companies are preparing for IPOs and waiting for the right time to go public," said Frank Lyn, PwC China Markets Leader, adding that the IPO market will be driven by sectors including industrial products, retail, consumer goods and services, as well as financial service. |