Microwave oven maker Galanz said it hopes to raise up to US$1 billion in a domestic initial public offering that could come by the end of the year, the South China Morning Post reported. A company spokesman declined to set a specific timetable for the listing, but analysts said a bearish market may force the company to reduce its expectations for fund raising to closer to US$500 million. The improved performance of China’s A-share market – the Shanghai Composite Index ended Friday up 27.46% for the year to date – has led to expectations of a rebound in listing activity. The China Securities Regulatory Commission had suspended its listing review process in September to prevent an influx of new shares onto the market.
You must log in to post a comment.