Its been the summer for Chinese IPO’s. Led by their stalwart Alibaba who recently listed in New York, 54 Chinese companies listed across 15 bourses raising more than US$29.8 billion as compared to US$1.93 billion raised during the same time a year ago. While a majority – 29 companies listed on domestic exchanges in Shanghai and Shenzen raising US$2.4 billion, the remaining 25 companies listed overseas including markets – New York, London, Hong Kong, Singapore, Frankfurt and Tokyo.
In September this year, Alibaba, China’s e commerce giant who changed global trade and made China the factory of the world, listed on the NASDAQ, raising US$25 billion. Trading under the ticker BABA, priced at US$68 per share, the Hangzhou based company led by Tai Chi enthusiast Jack Ma, surpassed the 2010 offering from the Agricultural Bank of China, which raised US$22.1 billion in it debut on the Hong Kong Stock Exchange. Of the biggest IPOs in history by cash raised, the top three are now all from mainland Chinese companies, with Chinese lender ICBC in third place, while AIA – the Hong Kong-listed insurer – is in fourth, according to data from Thomson Reuters.The company not only raised the bar for Chinese companies already seeking capital internationally, but also raised the stakes for entrepreneurs in China – a budding lot.