China’s pricey tech bourse faces test amid surge in IPOs
At least 18 companies will trade for the first time under registration-based initial public offerings
Beijing — A flood of new offerings will test investor demand for the already pricey ChiNext board on Monday, when the index begins trading under revamped rules that removes daily price limits for debut shares.
At least 18 companies, ranging from electronic product manufacturers to medical instrument makers, will trade for the first time under so-called registration-based initial public offerings (IPOs). The companies raised a combined of ¥20bn from their ChiNext listings, with retail demand outstripping supply by an average of about 5,700 times, according to data compiled by Bloomberg...