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JP Morgan China pins hopes on a recovery in company listings
TWICE as many firms in China are eager to list on the stock market now compared to a year ago as rising Asian share prices rebuild confidence among businesses, the head of JP Morgan’s arm in the country said at the weekend.
Fang Fang, chief executive for JP Morgan China, said firms were mulling fund-raising plans from initial public offerings (IPO) to sales of high-grade and high-yield bonds.
“Companies are all very tempted to come to the market now,” Fang said. “As we stand, the pipeline today is almost double of the pipeline we had at this time last year.”
Steelier risk appetites from companies allowed JP Morgan to handle more bond deals in China in January and February than the first six months of last year combined, he said.