IPO Ho!

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The IPO has been threatening to return for some time, now there is again Chinese action at home and abroad.

Two Chinese firms are listing in New York (The IPO is back RT @China_Daily: Chinese firms issue IPOs on NYSE, 1st in ’09 http://tinyurl.com/nw63sa 7:09 PM Jun 24th), as China Daily notes:

    “Chemspec International Ltd., a Shanghai-based maker of specialty chemicals, hopes to raise about US$64.8 million at nine dollars per share in its deal.

    The ticker symbol for Chemspec is CPC. Chemspec’s deal is being underwritten by Credit Suisse and Citi.

    Meanwhile, Duoyuan Global Water Inc, the Chinese water treatment equipment supplier, priced its initial public offering at 16 dollars per American depositary receipt.

    The ticker symbol for Duoyuan is DGW and the company sold more shares than initially announced, according to Piper Jaffray, the IPO’s underwriter.

    The offerings mark the first IPOs by Chinese companies on the NYSE so far this year, said Sam Van, manager of Asia & Middle East/North Africa global listings of the NYSE.”

But there is sign of life Hong Kong as well (IPO RT @drlombardo: China Metallurgical Group to raise HK$20 billion (US$2.7 billion) in dual listing… http://bit.ly/13WrZU 11:29 AM Jun 22nd). Reuters notes:

    “China Metallurgical Group Corp is expected to raise HK$20 billion (US$2.7 billion) in a dual listing in Hong Kong and Shanghai in October, a Hong Kong newspaper reported on Monday.”

The mainland is not being left out either (IPO’d: China’s first IPO in 10 months details share issue http://bit.ly/CPlh4 8:13 AM Jun 26th):

    “Drugmaker Guilin Sanjin Pharmaceutical Co has raised the amount it expects to raise in China’s first stock IPO in 10 months by 44 percent to 910 million yuan ($133 million).

    The traditional Chinese medicine maker won initial approval from the China Securities Regulatory Commission (CSRC) for an IPO in June last year, and recently won the final go-ahead with authorities looking to end a drought of new companies on the nation’s share markets.

… The expected restart of IPOs hit sentiment in China’s stock market when the government announced on May 22 it was revising IPO rules, paving the way for a resumption of listings after last year’s suspension.”

Bankers, accountants, lawyers, PRs, printers, and punters will all be hoping these moves are signs of “green shoots”.

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