Investor Presentaiton
A-share IPOs: overview
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The A-share IPO market is expected to complete 383 listings for a combined RMB 461.0 billion by the end of 2020.
This marks a 82 percent increase in terms of funds raised and a 91 percent uptick in terms of the number of listings
compared with the same period last year, boosted by growth in the STAR Market and the ChiNext board.
The first batch of registration-based IPOs were listed in the ChiNext board during the third quarter, highlighting the
country's efforts to reform the capital markets. By the end of 2020, 58 companies are expected to be listed under
ChiNext's new registration-based IPO system*, raising a total of RMB 64.2 billion. This total represents
approximately 14 percent of total funds raised during the year.
SSE
SSE - STAR
SZSE*
SZSE - ChiNext*
Total
Total
funds
raised
(RMB
Total
Average
Total funds
No.
of
IPOS
deal size
raised
(RMB
(RMB
No. of
IPOS
Average
deal size
Average
Average
billion)
billion)
(RMB
billion)
Total funds
raised
(RMB billion)
funds
Total
funds
Total
No. of
IPOS
deal size
raised
(RMB
No. of
IPOS
deal size
no.
raised
(RMB
of
(RMB
(RMB
billion)
billion)
IPOS
billion)
billion)
billion)
2020
118.8
85
1.40
217.2
141
1.54
60.8
99
0.61
64.2
58
1.11
461.0
383
2019
106.2
53
2.00
82.4
70
1.18
64.6
78
0.83
253.2
201
2018
86.5
57
1.52
2017
137.7
214
0.64
2016
101.7
103
0.99
I
51.3
48
1.07
92.5
222
0.42
47.9
124
0.39
.
1
1
137.8
105
230.2
436
149.6
227
Sources: Wind and KPMG analysis
Note: All figures are based on a combination of data as at 6 December 2020 and KPMG estimates, unless otherwise stated.
* The numbers presented under "SZSE - ChiNext" above represent IPOs completed under the registration-based system following the reform. During the year, there are 44 companies listed on the ChiNext board prior to the reform,
raising a total of RMB 23.3 billion. For analysis purpose, these IPOs were included under "SZSE" above.
KPMG
© 2020 KPMG, a Hong Kong partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited
("KPMG International"), a private English company limited by guarantee. All rights reserved.
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