As many as 20 provinces (including municipalities and autonomous regions) accounted for the 105 IPOs in 2018. The Top Five, which took up 67.62% (71 IPOs) of the total, were Jiangsu, Guangdong, Zhejiang, Beijing, and Shanghai.
Meanwhile, 12 provinces contributed zero IPOs. They were Chongqing, Liaoning, Heilongjiang, Jilin, Gansu, Qinghai, Yunnan, Hainan, Shanxi, Shaanxi, Inner Mongolia, and Ningxia, according to Securities Daily.
Jiangsu overtook Guangdong as the top IPO contributor.
In 2018, the first echelon of IPO contributors consisted of Jiangsu, Guangdong, Zhejiang, Beijing, and Shanghai.
The leader, Jiangsu Province, had 20 companies listed in 2018; Guangdong and Zhejiang were hot on the heels, registering 18 and 16 IPOs respectively; nine companies each from Beijing and Shanghai went public, according to Securities Daily.
The other IPO contributors were: Hubei (5), Sichuan (5), Hunan (4), Anhui (2), Xinjiang (2), Fujian (2), Guizhou (2), Jiangxi (2), Tibet (2), Hebei (1), Shandong (1), Henan (1), Tianjin (1), and Guangxi (1).
Owing to stricter examination, the total number of successful IPOs in 2018 (105) - as is the case of applications - was 333 less than that in 2017 (438), according to Eastmoney Choice Data.
Such trend held true province-wise. The only exceptions were Hunan and Tibet, which recorded three and one more IPO(s) respectively in 2018.
For Sichuan, Jiangxi and Xinjiang, the number of IPOs stayed at the 2017 level.
Paradoxically, the Top Five IPO contributors suffered the sharpest drop. For Jiangsu, Guangdong, Zhejiang, Beijing, and Shanghai, the numbers of IPOs were 45, 80, 71, 16, and 29 less than that in 2017.
For Shandong, Fujian, and Henan, the numbers of IPOs dropped 24, 23, and 13 respectively.
As with the ranking, Jiangsu rose from the third place to the top; Guangdong fell from the first to the second; Zhejiang fell from the second to the third; Shanghai, Hunan and Anhui took the fourth, eighth and ninth places; Beijing rose three places and shared the fourth with Shanghai; Hubei rose 16 places to the sixth; Sichuan rose four places to the seventh; and Xinjiang rose six places and shared the ninth with Anhui.
It is fortuitous for Jiangsu to surpass Guangdong, given their considerable gap in economic volume and overall strength of companies. But the competitiveness and potential of Jiangsu companies is indubitable, especially at a time when the examination is so strict and successful IPOs are so rare, according to Suning Institute of Finance.
With 11 IPOs to its credit, CITIC Securities was the most successful underwriter/sponsor
Eastmoney Choice Data show that the 105 IPOs were underwritten or sponsored by 47 securities brokers.
With 11 IPOs to its credit, CITIC Securities was indisputably the most successful underwriter/sponsor. Huatai United Securities and China Securities took the second and third places, underwriting/sponsoring ten and nine IPOs respectively. The number of IPOs underwritten/sponsored by the Top Three accounted for 30% of the total, a demonstration of the latter’s leading role in the field.
From fourth to tenth were China International Capital (8), China Merchants Securities (8), GF Securities (7), Haitong Securities (6), Industrial Securities (4), Guotai Junan Securities (4), and Sinolink Securities (4). The number of IPOs underwritten/sponsored by the Top Ten took up 71.14% of the total, while the rest 28.57% were divvied up among 37 brokers. As far as investment banking is concerned, the Matthew Effect is strikingly obvious.
It is noteworthy that currently China has 92 securities brokers with the underwriting/sponsorship license. In 2018, however, only 47 of them succeeded in getting at least one company floated.
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