China’s Star Board Among World’s Top Three IPO Venues
Photographer: VCG/Visual China Group via Getty Images
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China’s technology focused Star board may be just over a year old, but it already ranks among the world’s top three initial public offering venues.
Companies have raised $19.4 billion through listings on Shanghai’s Star board this year, trailing only the New York Stock Exchange’s $29.7 billion haul and Nasdaq’s $29.4 billion, data compiled by Bloomberg show. Thanks to China’s top chipmaker Semiconductor Manufacturing International Corp.’s $7.5 billion second listing -- the world’s largest this year -- on the neophyte trading board, IPO proceeds raised on the Star market have overtaken Hong Kong, the busiest venue last year.