2022年8月外文研究報(bào)告ipos worldwide

INDUSTRIES

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MARKETSInitialpublicofferings(IPOs)globallyCHAPTER

01OverviewLargestIPOsworldwideasofJune2022(inbillionU.S.dollars)LargestIPOsworldwideasof2022DealsizeinbillionU.S.dollars051015202530SaudiAramco*(12.04.2019)AlibabaGroupHolding**(09.18.2014)SoftBankCorp(12.10.2018)25.621.7721.35NTTMobile(10.22.1998)18.117.8617.78Visa(03.18.2008)AIA(10.21.2010)ENELSpA(11.01.1999)Facebook(05.17.2012)GeneralMotors(11.17.2010)ICBCBank-H(10.20.2006)16.4516.0115.7713.96DeutscheTelekom(11.17.1996)RivianAutomotive(11.08.2021)AlibabaGroupHolding-HongKongExchange(11.19.2019)13.0311.9311.244Description:TheinitialpublicofferingofSaudiAramco,aSaudiArabianmultinationalpetroleumandnaturalgascompany,ontheTadawulinDecember2019,wasthelargestpublicofferinggloballyasofJune2022.TheIPOofSaudiAramcoraisedapproximately25.6billionU.S.dollars.ReadmoreNote(s):Worldwide;asofJune2022;*SaudiAramcoexercisedthegreenshoeoptiontosellanadditional450millionshares,raisingthesizeofitsinitialpublicoffering(IPO)toarecord29.4billionU.S.dollars.**Alibabaexcerciseditsgreenshoe[...]

ReadmoreSource(s):RenaissanceCapitalNumberoftraditionalIPOsinselectedregions,countries,orterritoriesworldwidein2021Leadingcountries,regions,orterritoriesbynumberoftraditionalIPOs2021NumberofIPOs250050100197150200300350400450500550MainlandChinaUnitedStatesAustralia485416Nordics*Japan131128123IndiaHongKongIndonesia95555Description:Moreinitialpublicofferings(IPOs)occurredinChinain2021thananyotherregionorcountryworldwide.TheUnitedStatesfollowed,with416IPOsinthatyear.Australiaroundedoutthetopthree,withatotalof197IPOs.ReadmoreNote(s):Worldwide;2021;SPACIPOswerenotincludedbythesource;*Denmark,Norway,Sweden,andFinland.ReadmoreSource(s):EYDistributionofinitialpublicoffering(IPO)proceedscompletedonselectedexchangesworldwidein2021DistributionofIPOproceedsbystockexchangeglobally2021ShareofIPOproceeds10%0%5%15%20%25%USNASDAQUSNYSE21%13%Shanghai12%HongKong9%Shenzhen6%London5%SouthKorea4%4%IndiaNASDAQOMXandFirstNorthEuronextandAlternextSaoPaulo(B3)3%3%3%2%DeutscheB?rse(MainandScale)Allotherexchanges15%6Description:In2021,thestockexchangewiththehighestIPOproceedsgloballywastheNASDAQStockMarket.Throughout2021,IPOproceedsonthisstockexchangeaccountedfor21percentofglobalIPOproceeds.TheNewYorkStockExchange(NYSE)washometothesecondhighestshareofIPOproceeds.ReadmoreNote(s):Worldwide;2021Source(s):EYDistributionofinitialpublicofferings(IPOs)completedonselectedexchangesworldwidein2021DistributionofIPOs2021,bystockexchangegloballyShareofIPOs4%

6%0%2%8%10%12%14%16%18%20%USNasdaqShanghai(SSEandSTAR)12.9%10.2%9.7%Shenzhen(SZSEandChiNext)Australia(ASX)8.2%NasdaqOMXandFirstNorthTokyo,MOTHERSandJASDAQIndiaNational(NSEandSME)andBombay(BSEandSME)NewYork(NYSE)6.2%5.4%4.6%4.5%London(MainandAIM)4%3.9%3.7%3.6%HongKong(HKExandGEM)TelAviv(TASE)Korea(KRXandKOSDAQ)Allotherexchanges17.3%7Description:In2021,thestockexchangewiththemostIPOactivitygloballywastheNASDAQStockMarket.Throughout2021,12.9percentofglobalIPOswerecompletedontheNASDAQ,slightlydecreasingfrom13.3percentinthepreviousyear.TheShanghaiStockExchangewashometothesecond-highestshareofIPOs,with10.2percentofthetotal.in2021.ReadmoreNote(s):Worldwide;2021Source(s):EYNumberofinitialpublicofferings(IPO)completedonselectedexchangesworldwidein2020and2021LeadingstockexchangesbynumberofIPOsglobally2020vs2021NumberofIPOs202110020200200300400500600308USNASDAQShanghai(SSEandSTAR)181243233231Shenzhen(SZSEandChiNext)Australia(ASXASDAQOMXandFirstNorthTokyo,MOTHERSandJASDAQIndiaNational(NSEandSME)andBombay(BSEandSME)NewYork(NYSE)4412893110108434396958886London(MainandAIM)HongKong(HKExandGEM)TelAviv(TASE)144Korea(KRXandKOSDAQ)73549Allotherexchanges2728Description:In2021,theNASDAQStockMarketbasedinNewYorkCitywastheleadingstockexchangegloballyintermsofthenumberofIPOsfiled.Throughout2021,308IPOswerecompletedontheNASDAQ,whichwasalmosttwiceasmanyasinthepreviousyear.TheShanghaiStockExchangewashometothehighestnumberofIPOsin2020andinsecondplacein2021.ReadmoreNote(s):Worldwide;2020and2021Source(s):EYProceedsofinitialpublicofferings(IPO)completedonselectedexchangesworldwidein2021(inbillionU.S.dollars)LeadingstockexchangesbysizeofIPOsglobally2021IPOproceedsinbillionU.S.dollars30

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500102060708090100110USNASDAQUSNYSE97.358.5Shanghai56.7HongKong42.6Shenzhen26.3London21.218.617.215.815.111.610.3SouthKoreaIndiaNASDAQOMXandFirstNorthEuronextandAlternextSaoPaulo(B3)DeutscheB?rse(MainandScale)Allotherexchanges68.79Description:In2021,theNASDAQStockMarketbasedinNewYorkCitywastheleadingstockexchangeworldwideintermsofIPOproceeds.Throughout2021,IPOsworth97.3billionU.S.dollarswerecompletedontheNASDAQ.TheNewYorkStockExchange(NYSE)washometothesecondhighestIPOproceeds.ReadmoreNote(s):Worldwide;2021Source(s):EYCHAPTER

02RegionalbreakdownNumberofinitialpublicofferings(IPO)completedworldwidein2020and2021,byregionNumberofIPOsglobally2020-2021,byregionNumberofIPOs2021202005001,0001,5002,0002,5003,0001,136Asia-PacificEMEIA889724281282528AmericasGlobal2,3881,45211Description:In2021,theAsia-Pacificregionwashometothehighestnumberofinitialpublicofferings(IPOs)worldwide.ThenumberofIPOsintheregionreached1,136in2021,morethantwiceasmanyasintheEMEIAregion,whichincludesEurope,theMiddleEast,India,andAfrica.ReadmoreNote(s):Worldwide;2020and2021Source(s):EYValueofinitialpublicoffering(IPO)proceedsworldwidein2020and2021,byregion(inbillionU.S.dollars)SizeofIPOsglobally2020-2021,byregion20202021500450400350300250453.3271.320015010050174.6169.3138.5109.497.934.90AmericasAsia-PacificEMEIAGlobal12Description:In2021,themajorityofallglobalIPOproceedscamefromIPOscompletedonstockexchangesintheAmericas.ThevalueofIPOproceedsraisedintheAmericasreached174.6billionU.S.dollars.However,theAsia-PacificregionplayedhosttoamuchhighernumberofIPOsduringthesameperiod.ReadmoreNote(s):Worldwide;2020and2021Source(s):EYShareofinitialpublicofferings(IPO)completedworldwidefrom2017to2021,byregionShareofIPOsglobally2017-2021,byregionAmericasAsia-Pacific21%EMEIA120%100%19%61%30%30%48%32%49%80%60%40%20%0%60%57%22%19%19%20%13%2017201820192020202113Description:In2021,48percentofinitialpublicofferings(IPOs)globallywerecompletedintheAsia-Pacificregion.Meanwhile,only22percentofcompaniesdebutedonstockexchangesintheAmericas,thoughtheproceedsoftheseIPOsaccountedforover40percentofIPOproceedsglobally.ReadmoreNote(s):Worldwide;2017to2021Source(s):EYShareofinitialpublicoffering(IPO)proceedsworldwidefrom2017to2021,byregionShareofIPOproceedsglobally2017-2021,byregionAmericasAsia-PacificEMEIA120%100%13%51%23%48%24%37%28%45%34%80%60%40%20%0%39%39%36%29%27%27%2017201820192020202114/statistics/1263873/global-share-of-ipo-proceeds-by-regionIn2021,over40percentofinitialpublicoffering(IPO)proceedsgloballywereraisedonstockexchangesintheAmericas.Inthatyear,only37percentofIPOproceedscamefromtheAsia-Pacificregion,though48percentofIPOswerecompletedthere.ReadmoreNote(s):Worldwide;2017to2021Source(s):EYYear-on-yearchangeinnumberofinitialpublicofferings(IPOs)completedworldwidefromH12020to2021,byregionYoychangeofIPOvolumeglobally2021,byregion180%160%140%120%100%80%60%40%20%0%158%87%64%28%EMEIAAmericasAsia-PacificGlobal15Description:Betweenthefirsthalfof2020and2021,thenumberofIPOsinEurope,theMiddleEast,India,andAfrica-alsoknownastheEMEIAregion-increasedby158percent.Meanwhile,theglobalincreaseamountedto64percentoverthesameperiod.Theyear-onyeargrowthofIPOproceedsineachregionexceededthegrowthinthenumberofIPOs.ReadmoreNote(s):Worldwide;H12020to2021Source(s):EYYear-on-yearchangeininitialpublicoffering(IPO)proceedscompletedworldwidefromH12020to2021,byregionYoychangeofIPOproceedsglobally2021,byregion250%200%150%214%100%50%0%78%67%22%EMEIAAmericasAsia-PacificGlobal16Description:Betweenthefirsthalfof2020and2021,thevalueofIPOproceedsinEurope,theMiddleEast,India,andAfrica-alsoknownastheEMEIAregion-increasedby214percent.Meanwhile,theglobalincreaseamountedto67percentoverthesameperiod.ThenumberofIPOsineachregionalsogrewoverthisperiod.ReadmoreNote(s):Worldwide;H12020to2021Source(s):EYCHAPTER

03AmericasLargestIPOsintheUnitedStatesasofJuly2022(inbillionU.S.dollars)LargestIPOsintheU.S.2022DealsizeinbillionU.S.dollars0510152025AlibabaGroupHolding(09.18.2014)Visa(03.18.2008)21.7717.86ENELSpA(11.01.1999)Facebook(05.17.2012)16.4516.0115.77GeneralMotors(11.17.2010)DeutscheTelekom(11.17.1996)RivianAutomobile(11.08.2021)AT&TWirelessGroup(04.26.2000)KraftFoods(06.12.2001)13.0311.9310.628.68Uber(05.08.2019)8.1FranceTelecom(10.17.1997)TelstraCorporation(11.17.1997)Swisscom(10.04.1998)7.295.655.5818Description:Atnearly22billionU.S.dollars,the2014initialpublicoffering(IPO)ofAlibabaGroupHoldingLimitedremainsthelargestIPOintheUnitedStatesever.TrailingbyalmostfourbillionU.S.dollars,Visatakessecondplace,followedbyENELSpA,anenergycompanybasedinItaly.ReadmoreNote(s):UnitedStates;asofJuly2022Source(s):RenaissanceCapitalValueofinitialpublicofferings(IPOs)intheUnitedStatesfrom2000to2021(inbillionU.S.dollars)SizeofIPOsintheU.S.2000-2021134.9108.176.374.445.343.343.84141.337.836.334.735.129.830.528.725.225.223.119.218.5152000

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202119Description:In2021,thetotalvolumeoftraditionalIPOsintheUnitedStateswasgreaterthananyyearsince2000andgrossproceedswerealmosttwiceashighasin2020.Thegrossproceedsfor2021reached134.9billionU.S.dollars,upfrom76.3billionU.S.dollarsinthepreviousyear.However,SPACIPOsproceedswereevengreaterin2021.ReadmoreNote(s):UnitedStates;2000to2021;ThesefiguresdonotincludeSPACIPOsordirectlistings.Source(s):SECFilings;WilmerHaleDistributionofinitialpublicofferings(IPOs)intheUnitedStatesfrom2014to2021,bysizeDistributionofIPOsintheU.S.2014-2021,bysizeBelow50millionU.S.dollars150to249.99millionU.S.dollars50to74.99millionU.S.dollars250to499.99millionU.S.dollars75to99.99millionU.S.dollars500millionU.S.dollarsormore100to149.99millionU.S.dollars120%100%5%12%9%10%9%9%11%10%13%11%19%13%18%21%18%12%10%10%80%60%40%20%0%12%13%16%14%18%16%19%15%13%16%17%14%17%28%10%22%16%18%19%17%12%18%14%12%13%6%18%10%6%4%11%13%21%21%19%16%17%15%2014201520162017201820192020202120Description:In2021,morethanonethirdofIPOsintheUnitedStateswerelargerthan250millionU.S.dollars,and19percentweresmallerthan50millionU.S.dollars.Meanwhile,theaveragesizeofIPOshasmostlyremainedaround100millionU.S.dollarsoverthepastdecade.ReadmoreNote(s):2014to2021Source(s):SECFilings;WilmerHaleProceedsofinitialpublicofferings(IPOs)ontheNewYorkStockExchange(NYSE)fromQ12019toQ42021,bysector(inmillionU.S.dollars)ValueofIPOproceedsontheNewYorkStockExchange2019-2021,bysectorValueinmillionU.S.dollars020,00040,00060,00080,000100,000120,000140,000160,000147,400FinancialsTechnology33,456ConsumerservicesHealthcare18,14811,29410,362IndustrialsConsumergoodsConsumerstaplesUtilities3,7732,6751,613Basicmaterials

608Energy

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24821Description:Fromthefirstquarterof2019tothelastquarterof2021,themostlucrativesectorintermsofIPOproceedsontheNewYorkStockExchange(NYSE)wasthefinancialsector.ThevalueofIPOsinthissectoramountedtoover147billionU.S.dollarsduringtheperiodconsidered.ReadmoreNote(s):UnitedStates;Q12019toQ42021Source(s):PwCProceedsofinitialpublicofferings(IPOs)ontheNasdaqfromQ12019toQ42021,bysector(inmillionU.S.dollars)ValueofIPOproceedsontheNasdaq2019-2021,bysectorValueinmillionU.S.dollars020,00040,00060,00080,000100,000120,000140,000160,000153,769180,000FinancialsHealthcare61,843Technology33,798ConsumerdiscretionaryConsumerservicesIndustrials26,50513,15714,504ConsumergoodsConsumerstaplesEnergy5,3334,4994,491TelecommunicationsUtilities1,3301,231736Basicmaterials22/statistics/1245471/proceeds-of-ipos-nasdaq-by-sectorFromthefirstquarterof2019tothelastquarterof2021,themostlucrativesectorintermsofIPOproceedsontheNASDAQwasfinancials.ThevalueofIPOsinthissectoramountedtoapproximately154billionU.S.dollarsduringtheperiodconsidered.ReadmoreNote(s):UnitedStates;Q12019toQ42021Source(s):PwCProceedsofinitialpublicofferings(IPOs)ontheCanadianStockExchange(CSE)fromQ12018toQ42021,bysector(inmillionU.S.dollars)ValueofIPOproceedsontheCanadianStockExchange2018-2021,bysector10089908070605040302010060312215ConsumerservicesHealthcareFinancialsConsumerstapleConsumergoods23Description:Fromthefirstquarterof2018tothelastquarterof2021,themostlucrativesectorintermsofIPOproceedsontheCanadianStockExchangewasconsumerservices.ThevalueofIPOsinthissectoramountedto89millionU.S.dollarsduringtheperiodconsidered.ReadmoreNote(s):Canada;Q12018toQ42021Source(s):PwCValueofinitialpublicoffering(IPO)proceedscompletedontheB3stockexchangeinBrazilfrom2018to2021(inbillionU.S.dollars)SizeofIPOscompletedontheB3stockexchangeinBrazil2018-2021141211.9108.58642.3220201820192020202124Description:IPOproceedsfromtheB3stockexchangeinBrazilreachednewheightsin2021,whenthetotalvaluereached11.9billionU.S.dollars,whichwasmorethanin2019and2020combined.IPOproceedsfromthisstockexchangesurpassedthosefromseveralothermajorstockexchangesglobally.ReadmoreNote(s):Brazil;2018to2021Source(s):EYValueofinitialpublicoffering(IPO)proceedscompletedontheMexicoStockExchange(BMV)from2018to2021(inbillionU.S.dollars)SizeofIPOscompletedontheMexicanBolsa(BMV)2018-20213.53.23.02.52.01.61.51.11.00.5020190.020182020202125Description:TherewasonlyoneIPOactivityontheMexicoStockExchangethroughout2021.In2021,IPOproceedsonthisstockexchangeamountedto1.1billionU.S.dollars.Meanwhile,thevalueofIPOproceedsonBrazil'sB3stockexchangeincreasedin2021andhasremainedhighsince.ReadmoreNote(s):Mexico;2018to2021Source(s):EYCHAPTER

04EMEANumberofinitialpublicofferings(IPOs)inEurope,theMiddleEast,andAfrica(EMEA)from2019to2021IPOvolumeinEurope,theMiddleEast,andAfrica2019-202150045040035030025020045916515010050129020192020202127Description:Thenumberofinitialpublicofferings(IPOs)inEurope,theMiddleEast,andAfrica(EMEA)increasedfrom2019to2021.IPOvolumeintheEMEAregiongrewfrom129in2019to165in2020.In2021,numberofIPOtransactionsmorethandoubledcomparedtopreviousyears,withatotalof459IPOsrecorded.ReadmoreNote(s):Africa,Europe,MENA;2019to2021Source(s):PwCProceedsofinitialpublicofferings(IPOs)inEurope,theMiddleEast,andAfrica(EMEA)from2019to2021(inbillionU.S.dollars)ValueofIPOproceedsinEurope,theMiddleEast,andAfrica2019-202112010080996053402002720192020202128Description:Thevalueofproceedsofinitialpublicofferings(IPOs)inEurope,theMiddleEast,andAfrica(EMEA)decreasedfrom2019to2020.ThevalueofIPOproceedsintheEMEAregiondeclinedfromapproximately53billionU.S.dollarsin2019toapproximately27billionU.S.dollarsin2020.Conversely,whenconsideringIPOvolumeoverthisperiod,thereweremoreIPOsrecordedin2020thanin2019.In2021,IPOproceedsincreasedandamountedtoatotalvalueof99billionU.S.dollars.

ReadmoreNote(s):Africa,Europe,MENA;2019to2021Source(s):PwCLargestIPOsinEuropein2021,bydealvalue(inmillioneuros)LargestIPOsinEurope2021Dealvalueinmillioneuros05001,0001,5002,0002,5003,0003,500InPostSA(27.01.2021)VolvoCarAB(29.10.2021)3,2202,3152,2172,1642,127VantageTowersAG(17.03.2021)AllfundsGroupplc(20.10.2021)AutoStoreHoldingsLtd(20.10.2021)AUTO1GroupSE(02.02.2021)AzelisGroupNV(16.09.2021)Deliverooplc(31.03.2021)1,8331,7711,7571,684DrMartensplc(29.01.2021)AccionaEnergiaSA(30.06.2021)1,50929Description:Theinitialpublicoffering(IPO)ofInPostS.A.,listedontheEuronextinAmsterdam,wasthelargestpublicofferinginEuropein2021.TheIPOofInPostraisedapproximately3.2billioneuros.Aninitialpublicoffering(IPO),alsoknownas′goingpublic`,isthecompany`sfirststocksaletothepublic.Thelargestall-timeIPOworldwidewasworthmorethan20billioneuros.ReadmoreNote(s):Europe;2021Source(s):PwCTotalnumberofinitialpublicofferings(IPOs)inEuropefrom2009to2021Totalnumberofinitialpublicofferings(IPOs)inEurope2009-2021500457450422400350300250200150100503803762872772352302001561351261060200920102011201220132014201520162017201820192020202130Description:Thetotalnumberofinitialpublicofferings(IPOs)inEuropefluctuatedsignificantlybetween2009and2021.ThenumberofIPOsreachedatotalof422differentinitialpublicofferingsin2021,adramaticincreasefromthepreviousyear.Thelargesttotalnumberofinitialpublicofferings(IPOs)inEuropewasfoundin2011,whenthenumberofrecordedIPOsreachedatotalof457.Despite2011'sheightinvolume,IPO'sinthatyearhadacombinedvalueoflessthanhalfofthatseen2015.

ReadmoreNote(s):Europe;2009to2021Source(s):PwCUKNumberofinitialpublicofferings(IPOs)inEuropefrom1stquarter2017to1stquarter2022NumberofIPOsinEurope2017-2022160140120142125100868076806040200737169676666625247464139383533333128271816151512Q1

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202231Description:IPOactivityinEuropereachedafouryearhighthroughout2021,afterastarkreductionincompaniesgoingpublicinEuropein2020.Inthefirstquarterof2022,therewere28IPOsinEurope.

ReadmoreNote(s):Europe;Q12015toQ12022Source(s):PwCUKValueofinitialpublicoffering(IPO)inEuropefromtheQ12015toQ12022(inbillioneuros)FundsraisedbyIPOsinEurope2015-20222523.1

23.122.12018.117.317.116.51510513.512.811.611.511.510.510.2109.28.66.16.254.84.33.93.93.73.72.71.20.70Q1

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202232Description:FundsraisedforIPOlistingsfluctuatedoverallbetween2015and2020,reachingavalueofalmostninebillioneurosinthefourthquarterof2020.However,thelargestvalueofmoneyraisedbyinitialpublicofferinglistingsinEuropeoccurredinthefirstquarterandsecondquarterof2021,whenfundsamountingto23.1billioneuroswererecordedover86and142dealsrespectively.

ReadmoreNote(s):Europe;Q12015toQ12022Source(s):PwCNumberofinitialpublicofferingsintheGulfCooperationCouncilfrom2006to2021NumberofIPOsinGCC2006-2021403535302520151052822201917171211109997640200620072008200920102011201220132014201520162017201820192020202133Description:ThisstatisticshowsthenumberofinitialpublicofferingsintheGulfCooperationCouncilfrom2006to2020.Inthefiscalyearof2021,20companiesfromtheGulfCooperationCouncilhadtheirinitialpublicoffering.ReadmoreNote(s):MENA;2006to2021Source(s):Bloomberg;KAMCO;PwCValueofinitialpublicofferingsintheGulfCooperationCouncilfrom2006to2021(inbillionU.S.dollars)ValueofIPOsintheGCC2006-202130252028.011510.91107.527.276.484503.32.42.031.691.641.41.040.80.70.8200620072008200920102011201220132014201520162017201820192020202134Description:Inthefiscalyearof2021,thetotalvalueofallinitialpublicofferingsintheGulfCooperationCouncilwas7.52billionU.S.dollars.Thiswasasignificantincreasedcomparedtothe1.64billionU.S.dollarsin2020.ReadmoreNote(s):MENA;2006to2021Source(s):Bloomberg;KAMCO;PwCVolumeofinitialpublicofferings(IPOs)inAfricafrom2011to2021NumberofIPOsinAfrica2011-202132302724231717139872011201220132014201520162017201820192020202135Description:Asof2021,eightAfricancompanieswentpubliconstockexchanges.ThenumberofInitialPublicOfferings(IPOs)inthecontinentincreasedfromsevenin2020,comparedtoastrongdeclineinpreviousyears.In2017,forinstance,30companiessoldstocksharestothepublicforthefirsttime.InitialpublicofferingsbyAfricancompaniesin2021raisedacapitalvalueofaround920millionU.s.dollars.ReadmoreNote(s):Africa;2011to2021Source(s):Dealogic;PwCValueofinitialpublicofferings(IPOs)inAfricafrom2011to2021(inmillionU.S.dollars)ValueofIPOsinAfrica2011-20213,0832,2392,0271,7221,5881,24720191,101921902644401201120122013201420152016201720182020202136Description:Asof2021,capitalraisedbyInitialPublicOfferings(IPOs)inAfricaamountedto921millionU.S.dollars.ThelargestIPOintermsofvaluewasthelistingofDigital&FinancialInvestmentsSAEontheEgyptianExchange,raising371.6millionU.S.dollars.Overall,thecapitalraisedbyAfricancompanieswhilegoingpublicforthefirsttimehasbeenindeclineaswellasthenumberofIPOs.ReadmoreNote(s):Africa;2011to2021Source(s):Dealogic;PwCCHAPTER

05Asia-PacificLargestIPOsinGreaterChinabyissuevolumein2021(inmillionU.S.dollars)LargestIPOsinGreaterChinabyissuevolume2021IssuevolumeinmillionU.S.dollars1,000

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3,000

4,00005,0006,0007,0008,0009,0008,531ChinaTelecomCorporationLimited(Sh)KuaishouTechnology(HK)BeiGeneLtd(Sh)6,1944,104JDLogisticsInc(HK)3,6263,578ChinaThreeGorgesRenewables(Group)CoLtd(Sh)BaiduInc(HK)3,0702,979BilibiliInc(HK)XPengInc(HK)2,0541,7231,352LiAutoInc(HK)ShanghaiRuralCommercialBankCoLtd(Sh)38Description:In2021,thelargestinitialpublicofferinginChinawasChinaTelecomCorporationLimitedattheShanghaiStockExchange.ThisrankedrightafterRivianAutomotive'sIPOatNasdaq,whichwasthelargestaroundtheworldinthatyear.In2021,sixoutofthetoptenIPOsworldwidewereChinesecompanies.ReadmoreNote(s):China,Taiwan,HongKong;2021Source(s):PwCNumberofIPOsinGreaterChinafrom2014to2021,bystockexchangeNumberofIPOsinGreaterChina2014-2021,bystockexchangeShanghaiShenzhenHongKongTaiwanBeijing*7006005004003002001000211119991217415419242523331222161138126184212181221247813024923421482485712310389432014201520162017201820192020202139Description:In2021,thestockexchangeinShanghairecorded249initialpublicofferings,whichwasthehighestnumberamongallboursesinGreaterChina.AfterestablishingtheStar-AmarketattheShanghaiStockExchange,thepopularityofthebourseincreasedsignificantly.ReadmoreNote(s):China,Taiwan,HongKong;2014to2021;*BeijingStockExchangewaslaunchedinSeptember2021,andstartedtradinginNovemberthatyear.ThedatarefertothestockexchangesinShanghai,Shenzhen,HongKongandTaiwan.Greater[...]

ReadmoreSource(s):PwCIssuingvolumeofChineseIPOsinChinaandabroadfrom2010to2021(inbillionyuan)IssuingvolumeofChineseIPOsinChinaandabroad2010-2021DomesticAbroad900800700321.75380.176005004003002001000221.97213.36118.75291.3388.43234.852017534.462021328.39195.53480.42010161.4462.462020291.46201165.62109.9260.432019158.612015151.12016138.662018126.7587.24201402012201340Description:In2021,thevalueofChineseIPOsoverseasamountedto322billionyuan.Inrecentyears,moreandmoreChineseenterprisestolistondomesticstockexchanges.TheChinesegovernmentattemptstoputstricterregulationsoncompanieswhowanttoaccessoverseascapital.ReadmoreNote(s):China;2010to2021Source(s):Website(posts.careerengine.us);Zero2IPONumberofinitialpublicofferings(IPOs)ontheAustralianSecuritiesExchange(ASX)from2010to2021NumberofIPOsontheASXinAustralia2010-2021250200