In the second half of 2018, the number of Chinese TMT IPOs rose significantly to 40, with combined proceeds amounting to RMB 168.1 billion. In 2018, the total proceeds of Chinese TMT IPOs tripled from 2017 to reach about RMB 225.9 billion. China Tower Corp, Xiaomi Corp and Meituan Dianping completed the three largest Chinese TMT IPOs in terms of proceeds in the second half of 2018.
Hong Kong and overseas became the popular listing choice for Chinese TMT companies, in which 78% Chinese TMT companies chose to list. 10% Chinese TMT companies chose to list on Main Board, 8% on the GEM in Shenzhen and 5% on the SEM in Shenzhen.
In the second half of 2018, 31 Chinese TMT companies chose to list in Hong Kong or overseas, with their proceeds of RMB 158.5 billion, accounting for 94% of the total. Two Chinese TMT companies were listed on the SEM in Shenzhen, four on the Main Board, and three on the GEM in Shenzhen, achieving proceeds of RMB 4.2 billion, RMB 3.6 billion and RMB 1.8 billion respectively, accounting for 2%, 2% and 1% of total proceeds, respectively.