Through the first three quarters of 2018, Chinese companies have far outpaced U. S. companies when it comes to IPOs on U. S. stock exchanges.
China’s growing prowess across a wide range of tech sectors has triggered a love affair between the country’s startups and Wall Street. Through the first three quarters of 2018, Chinese companies have far outpaced U. S. companies when it comes to IPOs on U. S. stock exchanges.
That continued in the third quarter, when 10 Chinese companies had initial public offerings of stock compared to 4 based in the U. S., according to Renaissance Capital’s IPO report.
Overall, that fueled a solid quarter for tech IPOs. Those 14 tech IPOs raised $4.0 billion, about 5 times more than tech IPOs for the same period one year ago.
In the U. S., the IPO march was led by Eventbrite and SurveyMonkey which posted strong debuts. But they were overshadowed as a group by companies from China.
According to Renaissance, the 10 Chinese IPOs was the most on U. S. markets since the second quarter of 2014.
The Chinese cohort was led by e-commerce app Pinduoduo, which raised $1.6 billion, and also included electric and autonomous car startup Nio.
All together, there have been a total of 23 Chinese IPOs this year in the first nine months, which tops all full-year totals going back to 2010.
With several more Chinese IPOs in the pipeline for Q4, Renaissance said it expects that country to come out far ahead for the year, even as U. S. companies are expected to pick up the pace this quarter.
