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BEIJING -- China's initial public offerings (IPOs) totaled 230.54 billion yuan ($36.59 billion) in the first three quarters of the year, down 40 percent from last year amid a market downturn,abercrombie, data from the Shanghai and Shenzhen bourses showed.
During the January-September period, 227 companies launched IPOs,louboutin, down from 196 last year. Of the total, only 84 companies went public on the country's SME (small- and medium-sized enterprises) Board, compared with 154 during the same period last year.
More than half of retail investors suffered losses of over 30 percent, the survey showed.
Only 9.2 percent of the survey's respondents indicated that they are willing to invest in stocks,abercrombie, the lowest level recorded since 2009.
The market capitalization of the Shanghai and Shenzhen stock exchanges has dwindled by 3.38 trillion yuan to reach 23.16 trillion yuan as of Sept. 30.
The benchmark Shanghai Composite Index has slumped 15.98 percent this year, ending at 2,359.22 points on Sept. 30, the last trading day before the weeklong National Day holiday starting Oct. 1.
Last year,burberry pas cher, five companies issued IPOs of similar size. The Agricultural Bank of China (ABC), one of the country's largest state-owned lenders, raised a record 68.5 billion yuan through their IPO.
Sentiment towards stocks has been negative, according to a survey conducted last month by the People's Bank of China, the country's central bank.
Meanwhile,louboutin pas cher, small companies may choose to go public at a slower pace, given the gloomy market prospect, he said.
The country's stock markets have performed poorly this year, with the government launching tightening measures to curb inflation and a faltering global economic recovery weighing on market sentiment.
A lower price earning (PE) ratio on the SME Board also eroded the total value of the IPOs. The average PE ratio for the SME Board stood at 45.02 this year,doudoune moncler, down from 52.76 last year.
Retail investors account for more than 90 percent of China's stock investors.
"Fewer large IPOs will come to the market in the immediate future,abercrombie and fitch, as most large enterprises are already listed,abercrombie and fitch," said Zhang Xiang, an analyst with Guodu Securities.
Analysts attributed the decreases to a shrinking number of sizable deals this year. The Sinohydro Group,louboutin pas cher, the builder of the Three Gorges Dam,burberry, was the only company who launched an IPO worth more than 10 billion yuan.
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