More IPOs line up for the China A-share market

China's stockmarkets saw more money raised from initial public offerings (IPOs) than any other markets in the world in the first half this year and will continue to embrace an influx of new share offerings in the second half, as indicated by a series of share sale plans.

The proposed listings are likely to proceed, market watchers say, even though the benchmark Shanghai Composite Index, which tracks the bigger of China's stock exchanges, fell 26% in the first half, making it one of the worst performers in the world. The decline came as Beijing stepped up measures to curb inflation and property speculation.

While the market is still closely watching the trading in newly listed Agricultural Bank of China (ABC), investors will need to get their heads around yet another Mainland lender -- China Everbright Bank -- which plans to offer 6.1 billion A-shares in a deal that analysts say could allow it to raise around $2.9 billion ahead of a Shanghai listing.

The China Securities Regulatory Commission (CSRC) will review the bank's IPO today, the commission said in a statement posted on its website late last week.

Everbright Bank will sell 15% of its enlarged share capital, which could extend to 17% if a 15% greenshoe option is fully exercised, the bank said in a preliminary IPO prospectus filed on the same website. Including the shoe, the bank may sell approximately 7 billion shares.