China tops the global IPO charts in first quarter

The number of Chinese companies listing domestically and overseas reached 105 in the first quarter of 2011, nearly double the international public offerings from all other nations combined, state media reported. According to Zero2IPO, a consultancy, in March alone 36 companies raised a total of US$7.3 billion, up 58.5% year-on-year. Private equity and venture capital money was behind 17 of these offerings. Of the 105 listings between January and March, 16 were on overseas bourses: nine chose Hong Kong while the others opted for the New York Stock Exchange, NASDAQ and the Korea Exchange. Zero2IPO analyst Luo Shu said the recent success of Qihoo 360 (QIHU.NASDAQ) – which saw its share price jump 134.5% on the first day of trading in New York – would encourage other technology firms to list overseas. Zhang added that internet, IT, cleantech and education companies are generally attracted to foreign bourses, while energy and heavy industry players favored domestic listings.