This year, the number of participants in China's stock market IPOs has been steadily increasing.
According to Chinese media reports, the average number of participants in new share applications (excluding the Sci-Tech Innovation Board and Beijing Stock Exchange) this year is close to 12 million, far exceeding levels of the previous two years.
Among them, New Asia Cables, which went public in March, had over 14 million participants, the highest number since 2023.
The reports suggest that the recovery in participant numbers may be related to IPO gains, as the average first-day price increase of new stocks exceeded 200% this year, with none falling below their offering price.
Since the beginning of this year, 45 new stocks (including those on the Sci-Tech Innovation Board and Beijing Stock Exchange) have been listed, with an average first-day increase of 219%.
Reports indicate that after the tightening of IPO rules, the number of new stocks has significantly decreased, leading to a certain scarcity, which to some extent has prompted better performance of the new stocks.
IPO participation refers to using funds to subscribe for new shares. If the subscription is successful, the investor buys the shares that are about to be listed.