China Responsible for 76% of Global IPO Funding
Chinese firms raised $40.1 billion from initial stock sales in the third quarter of 2010, accounting for 76% of the world's total, an Ernst & Young report has revealed. There were 286 initial public offerings that financed $52.7 billion over the period, and China's 110 cases absorbed $40.1 billion, including $22.1 billion by Agricultural Bank of China, the world's largest ever IPO. The companies associated with finance, mining and manufacturing raised $26.8 billion, $5.7 billion and $5.7 billion respectively between July and September, followed by hi-tech companies' $4.5 billion. During the nine months through September 2010 globally, 888 IPOs raised $152.7 billion, eclipsing last year's $112.6 billion, added the report.
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