4th June 2024 (11 Topics)

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China's Offshore Listing Challenges

Context

Chinese firms aiming for offshore listings have hit a regulatory roadblock, leading to prolonged delays and lower valuations. Despite Beijing's pledge to ease the process and positive market indicators, the IPO drought persists, hindering capital raising in a slowing economy.

About Offshore Listings:

Offshore listings are critical fundraising channels for Chinese companies. These deals also account for a bulk of the revenue global investment banks make in Asia.
These listings not only provide access to global capital markets but also contribute significantly to the revenue of investment banks operating in Asia.

Fact Box: Initial Public Offering (IPO)

An Initial Public Offering (IPO), is when a privately held company, or a government-owned entity like LIC, raises funds by selling shares to the public or new investors.
Through the IPO, the company gets its name listed on the stock exchange.
Filing with SEBI: Before launching an IPO, the company must file its offer document with the Securities and Exchange Board of India (SEBI), the market regulator.
SEBI Criteria: To safeguard investors, SEBI has set rules that companies must meet before conducting an IPO.
These criteria include:
- Having net tangible assets of at least Rs 3 crore.
- Maintaining a net worth of Rs 1 crore in each of the preceding three full years.
- Achieving a minimum average pre-tax profit of Rs 15 crore in at least three of the last five years.

Property is real, and so should the ‘compensation’

Polity & Governance Fundamental Rights

The delicate balancing of health-care costs

Polity & Governance Governance

Scrapping of Agnipath

Polity & Governance Government Schemes

Onset of La Nina

Geography Geophysical phenomena

PraVaHa

Science & Technology Satellites and Launch Vehicles

ICMR’s Initiative for Sickle Cell Disease

Science & Technology General Science (Issues related to health)

Green-Beard Genes

Science & Technology General Science (Issues related to health)

Preston Curve

Economy Basic Concepts

External Commercial Borrowings (ECBs)

Economy Basic Concepts

GS Analyst: Daily Current Affairs

China's Offshore Listing Challenges

About Offshore Listings:

Fact Box: Initial Public Offering (IPO)

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