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China Railway debut has investors on edge
Nervous investors will today look to the $3bn market debut of China Railway in Shanghai for further clues that the phenomenal success of Chinese initial public offerings could be running out of steam.
Mainland companies have this year raised more than $90bn through nearly 180 IPOs on the Shanghai, Shenzhen and Hong Kong exchanges as investors search for exposure to some of world's fastest-growing com- panies.
Investor sentiment, however, appears to have turned following the listing in Hong Kong three weeks ago of Alibaba.com, China's leading business-to- business website, whose shares trebled on their first day.
募股规模达30亿美元的中国中铁(China Railway)今日将在上海首日上市。紧张的投资者将从中寻找更多线索,以确定中国首次公开发行(IPO)的非凡成功是否正在失去以往的势头。
随着投资者寻求参股一些世界上发展最快的企业,中国内地企业今年在上海、深圳及香港交易所进行了近180次IPO,募集资金超过900亿美元。
然而,在中国领先的B2B网站阿里巴巴(Alibaba.com)于3周前登陆香港股市后,投资者人气似乎已发生转变。阿里巴巴的股价在交易首日上涨近两倍。