The first batch of companies registered for listing on Shenzhen’s Nasdaq-style ChiNext board under a revamped initial public offering (IPO) system will make their debuts Aug. 24, the Shenzhen Stock Exchange said on Friday, reported Caixin.
The exchange did not say how many companies will start trading Aug. 24, but as of the end of Friday, 18 companies have completed IPOs. They raised a total of more than RMB 20 billion ($2.89 billion), nearly 30% more than originally planned amid overwhelming investor demand.
The 18 companies represent industries including health care, automobiles, equipment manufacturing, environment protection, culture and entertainment. Anker Innovations, a maker of cellphone chargers and smart electronics, raised RMB 2.72 billion in the biggest of the IPOs. The smallest offering was by Ningbo KBE Electrical Technology, a manufacturer of automotive cables, which raised RMB 259 million.