World Economy

China IPOs in US Plunge

China IPOs in US PlungeChina IPOs in US Plunge

Only 14 initial public offerings by Chinese companies on American exchanges were made this year, the fewest since 2013. The value of Chinese IPOs also plunged to $66 million this year, down 98% from $29 billion last year, according to a Bloomberg report. The plunge in the number of companies domiciled in China that have announced IPOs on American exchanges was attributed to the jump in new listings on the mainland. According to the Bloomberg report, Chinese companies are going public at the fastest pace in at least 12 years. So far this year, 531 deals were announced, carrying a total value of almost $17 billion and the number is expected to grow.