An article in the March 2011 issue of Global Finance magazine (http://www.gfmag.com) said that Chinese companies had raised $4 billion in 31 new depository receipt programs in 2010. This represents 80% market share of Asian receipts. In terms of global IPOs (including common stock and depository receipts), China had 18 of the largest 25 deals and raised 26% of the world's capital. The activity was caused by improving equity markets and by many companies deciding to expand after the economic crisis. The threat of inflation is the only overhang in the present.
The article references a table from Citi Depository Receipts year-end 2010 report. The top 10 Asian companies, in terms of volume, include Baidu, Taiwan Semiconductor, JA Solar Holdings, Suntech Power Holdings and United Microelectronics.
No comments:
Post a Comment