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【
News release
】
Chinese Enterprises’ IPOs Surge in Q3; 46 Enterprises ListedOverseas; VC/PE Exits Increasingly Active
Zero2IPO Research Center Oct. 27, 2009 Beijing
According to the China Enterprises IPO Report Q3 2009 recently released by Zero2IPOGroup, a famous research, advisory and investment institution focusing on VC and PEindustries in Greater China Region, 46 Chinese enterprises went public on 13 overseasmarkets and two domestic markets which Zero2IPO Research Center focuses on inQ3’09, raising a combined US$20.71B, or US$450.25M on average. With the recovery of the overseas market and the resumption of domestic IPOs, Q3 witnessed a surge in thenumber of Chinese enterprises listed at home and abroad, with both the number of listings and the amount raised therein reaching a relatively high level since 2008. To bespecific, the number of IPOs was only smaller than that of Q1’08, but was up by 18 year-on-year and 35 quarter-on-quarter. The amount raised hit a new high since 2008,increasing by 5.78 times from a year earlier and 7.82 times from a quarter ago. (SeeChart 1)By market, 18 of the 46 listed enterprises went public on foreign markets
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, raising acollective RMB6.60B, an increase of eight in terms of IPO number and 5.22 times in theamount raised. The domestic market also saw 28 listings, ten more from a year earlier,raising a total of US$14.11B, an increase of 6.08 times year-on-year. (See Table 1)In Q3’09, 14 of the 46 listed Chinese companies were backed by VC/PE investment,garnering a total of US$1.85B. Compared from the same period last year, the number of listed VC/PE-backed enterprises was up by four and the amount raised rose 158.9%.
Table 1 Chinese Enterprises’ Domestic and Overseas IPOs in Q3’0 9ListingMarketFinancing Amt.(US$M)% of TotalNo. of IPOs% of TotalAverageFinancing Amt.(US$M)
DomesticMarket
14,111.33 68.1%2860.9%503.98
OverseasMarket
6,600.28 31.9%1839.1%366.68
Total
20,711.61 100.0%46100.0%450.25
Source: Zero2IPO Research Center 2009.10 www.zero2ipo.com.cn
Chart 1 Quarter-on-quarter Comparison of Chinese Enterprises’ Domestic andOverseas IPOs (Q1’08-Q3’09)
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【
News release
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Overseas IPOs and Amount Raised on Continuous Rise, with HighConcentration in Market and Industry
In Q3’09, overseas markets kept warming up and IPOs moved on steadily in countriesaround the world. Under this context, Chinese enterprises grow increasingly active ingetting listed overseas. Altogether 18 Chinese enterprises went public on three overseasmarkets, collecting a total of US$6.60B. Year-on-year, the number of listings was up byeight and the amount raised jumped 5.22 times; quarter-on-quarter, the number of IPOsrose by seven and the amount raised surged 181.1%. (See Chart 2)
Chart 2 Quarter-on-quarter Comparison of Chinese Enterprises’ Overseas IPOs(Q1’08-Q3’09)
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【
News release
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In terms of market breakdown, Chinese enterprises became more concentrated in termsof listing markets, and the 18 enterprises were mainly listed on three markets: HKMB,NASDAQ, and SGX. HKMB attracted a majority of these enterprises, with 11 IPOscollecting US$5.42B, which accounted 61.1% of the total number of Chinese enterprises’overseas IPOs and 82.1% of the amount raised thereby. Four Chinese enterprisesdebuted on NASDAQ, collecting US$1.07B, representing 22.2% and 16.3% of the totalrespectively. SGX also saw the listing of three Chinese enterprises which collected ahumble US$108.47M, accounting for 16.7% and 1.6% of the total respectively. (SeeTable 2)
Table 2 Chinese Enterprises’ Overseas IPOs in Q3’09 by MarketListingMarketFinancingAmt.(US$M)% of TotalNo. of IPOs% of TotalAverageFinancing Amt.(US$M)
HKMB
5,417.19 82.1%1161.1%492.47
NASDAQ
1,074.63 16.3%422.2%268.66
SGX
108.47 1.6%316.7%36.16
Total
6,600.28 100.0%18100.0%366.68
Source: Zero2IPO Research Center 2009.10 www.zero2ipo.com.cn
 
By industry, Traditional sector continue to lead in both number of IPOs and amountraised. A total of 13 Traditional enterprises went public in this quarter, raising a combinedUS$4.36B, taking up 72.2% of the total number of IPOs and 66.0% of the total amountraised. Quarter-on-quarter, the number of Traditional listings was up by six, and thefinancing amount jumped 141.2%. The number of Broad IT debuts also registered aconspicuous rise from Q2, with three IPOs collecting a total of US$1.11B – up by two and
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