China leads world in IPOs so far this year

Mainland Chinese companies have raised more through initial public offerings so far this year than any other country in the world, according to Thomson Financial. Beijing-based Sino-Ocean Land's US$1.5 billion offering earlier this week helped China pass the US, with US$30 billion raised from 132 deals, up 56.6% on last year, the South China Morning Post reported. US-based companies have raised US$29.78 billion from 129 deals, which represents a 16.2% share of the global IPO market to China's 19.3. The Chinese figures do not include the recent A-share offerings by China Construction Bank and China Shenhua Energy, which raised US$7.72 billion and US$8.9 billion respectively. The mainland is said to have a further 54 deals in the pipeline for 2007, which could generate as much as US$26.7 billion.