A record number of companies are rushing to submit applications for initial public offerings (IPOs) on China’s A-share market even as a rising number of others are withdrawing flotation plans.
In the last week of June, 247 companies submitted IPO applications, the highest weekly number on record. A total of 921 companies are in line to raise money by selling shares on the Shanghai and Shenzhen stock exchanges, the Nasdaq-like STAR Market, the ChiNext board and the newly established Beijing Stock Exchange.