Nasdaq insider forecasts more Chinese IPOs

CNC
Added On May 23, 2019

 Senior Vice President of Nasdaq's Listing Services unit, Robert McCooey, says the impressive number of Chinese IPOs on Nasdaq indicate an increasing number of Chinese companies are seeking exposure and capital in U.S. markets.

SOUNDBITE(English): ROBERT MCCOOEY, Senior Vice President of Nasdaq
 
"We saw a great year with 22 IPOs from China on Nasdaq last year, already 15 from China this year. So we expect that we should surpass last year's number and the pipeline continues to be very, very strong for Chinese companies who are interested in accessing the U.S. capital markets."
 
According to data from financial data provider Wind, a total of 43 Chinese companies used the U.S. equity market to go public in 2018, up from 24 firms in 2017 and just 10 in 2016.
 
SOUNDBITE(English): ROBERT MCCOOEY, Senior Vice President of Nasdaq
 
"We're seeing a whole variety of amazing companies from China who have a terrific total addressable market of 1.4 billion people that they can sell to. So we are very high on the opportunity for more and more Chinese companies to come raise money here on Nasdaq and in the U.S. markets."
 
The Nasdaq veteran mentioned that there has been "a very strong tendency" for U.S. investors to look for rapidly-growing companies across the world including those from China.
 
SOUNDBITE(English)ROBERT MCCOOEY, Senior Vice President of Nasdaq
 
"The reality is that the companies in China are building amazing businesses. Investors want to invest in amazing businesses and whether those are small companies that are fast growing, whether they are larger companies that continue to have mature and growing businesses. Investors are wanting to invest in places where there is a large and growing total addressable market. Middle class is growing in China. Opportunities to bring new products and services to China is certainly something that's of value. And so investors are looking for that and I don't see them stopping."