BEIJING, Dec. 6 (Xinhua) -- Companies listed on Beijing Stock Exchange (BSE) amounted to 260 ones after a new materials producer went public on the bourse on Thursday, reported Securities Daily on Friday.
By December 5, 20 firms completed their initial public offerings (IPOs) on BSE this year, with their stock prices up 202 percent on average on the respective first trading days and new stock offerings valued relatively low.
Statistics with Wind, a financial data provider in China, showed that Shaanxi Kelong New Material Technology (920098.BJ) raised 242 million yuan via its Thursday listing and 440,500 investors participated in the stagging, resulting in an all time high 388.606 billion yuan of locked-up funds.
This year, IPO reviews on the BSE have been in stable progress, indicating regulatory support for listing of specialized and new innovative businesses, Liu Xiangdong, chief analyst with Eastern Spring (Tianjin) Capital Management Co., Ltd. told the newspaper.
Under the optimistic market situations, handsome returns from new stocks investment attracted plenty of capital holders into stagging, fueling constantly investors' attention on IPOs, according to Liu.
Currently, BSE-listed stocks are mainly small- and mid-cap ones and when external investors hold sufficient funds in hand, stagging on BSE usually brings satisfying returns, said a market watcher.
A survey shows that 80 companies are queuing up for listing on the BSE now and as its recent IPO review paces sped up, there will be more quality listings on the exchange in future, noted the market watcher.
(Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)
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