Chinese technology, media and telecom companies doubled the amount of money they raised via stock exchange listings last year, in a trend that is set to rapidly gain pace as a number of tech unicorns ready plans to float on the mainland.
Companies in the Chinese TMT sector doubled proceeds from initial public offerings on global bourses year-on-year in 2017, raising a total of Rmb76bn ($12bn), according to data from advisory firm PwC. The number of Chinese TMT IPOs doubled in 2017 from a year earlier to more than 100.
Although domestic exchanges in China experienced a drop in volume in the second half of last year as authorities clamped down on supervision and auditing, new proposals to expand listings are expected to soon attract a string of Chinese tech giants.