(Yicai) Sept. 15 -- The number of Chinese mainland-based technology, media, and telecom firms going public, as well as the amount they raised through their initial public offerings, fell in the first half of the year, according to a report from PricewaterhouseCoopers.

Sixty-six Chinese mainland TMT companies went public in the six months ended June 30, compared with 124 in the second half of last year, the report showed yesterday. They raised CNY82.9 billion (USD11.4 billion), down 38 percent in the period.

Some 42 IPOs were completed in the field of technical hardware and devices in the first half. Twenty IPOs were carried out by software and services firms and the remaining four by media companies.

The 26 TMT enterprises that got listed on Shanghai Stock Exchange’s Nasdaq-like Star Market raised CNY60.6 billion, while the 13 that did so on Shenzhen Stock Exchange’s technology board ChiNext board raised CNY14.2 billion. Nine TMT firms went public on the Beijing Stock Exchange, raising CNY1.2 billion (USD167.4 million), and the remaining two got listed on the main boards of the Shanghai and Shenzhen bourses, raising CNY6.9 billion.

Sixteen TMT companies got listed in Hong Kong and overseas in the first half of the year, raising around CNY4.1 billion, accounting for 5 percent of the total IPO proceeds in the period.

Hong Kong and overseas bourses are more tolerant of companies listing while at a loss. Six of the 16 firms that carried out offshore IPOs in the first half were in the red, such as light detection and ranging solutions provider Hesai Technology and education service provider Fenbi.

The China Securities Regulatory Commission recently issued policies to revitalize the Chinese mainland stock markets and boost investors’ confidence, Gao Jianbin, said Mainland China TMT Managing Partner at PwC. The policies will further guide the benign and long-term development of the Chinese mainland stock markets, Gao added.

Editor: Futura Costaglione