PwC says Shanghai, Shenzhen to see rapid increase in IPOs in 2017

SHANGHAI - The number of initial public offerings on the Shanghai and Shenzhen stock markets is expected to increase rapidly in the current year-and their total value will grow substantially-after 227 took place in 2016, a 3.7% rise from the year earlier, according to PwC.

The firm says the value of IPOs in 2016 fell by 5.2% to RMB150.4 billion (US$21.6 billion). The Shanghai Daily reports PwC data showing that 103 IPOs were completed on the main board of Shanghai Stock Exchange with a value of RMB101.9 billion in 2016-and the number of IPOs completed on Shenzhen SME Board was 46 with a value of RMB22.7 billion.

PwC said there has been a spurt in the number of IPOs since August, as the China Securities Regulatory Commission moved to accelerate the pace of listings.

"Due to global instability and IPO suspension and resumption in 2015, the A-share market was still in recovery mode in the first half of 2016, resulting in a moderate increase in IPOs from a low point," said Frank Lyn, a senior partner and head of markets at PwC.  www.webershandwick.cn (ATI).