Here’s our compilation of the top 10 Chinese IPOs by proceeds, according to KPMG’s third quarter review from 2017.
4. Jiangsu Provincial Agricultural Reclamation and Development – 2.4bn RMB
Jiangsu Provincial Agricultural Reclamation and Development deals in agriculture, oriented around cultivating wheat and rice, producing seeds, and the processing of rice. Based in China, it mostly produces DaHua brand wheat seeds, and SuKen brand rice. According to KPMG, it earned 2.4bn RMB, or 0.36bn USD in proceeds, with an IPO Price-Earnings Ratio of 22.1. According to the Financial Times, it has 12,820 employees. Reuters reports it received a subsidy in 2017 of 117.6mn yuan, or $18.02mn, from the government. According to Bloomberg, it is based in Nanjing, China, and was founded in 1956.