IPO rally gathers steam on mainland bourses

Financial services, retail, consumer sectors to drive market, says PwC

Funds raised through China's IPOs will soar 73 percent to exceed 320 billion yuan this year as firms expect IPO markets in Shanghai and Shenzhen to continue to pick up in the first half of 2010, PricewaterhouseCoopers (PwC) said in a report yesterday.

"Along with further growth in domestic demand and GDP, many Chinese companies are ready and waiting to get listed on the Shanghai and Shenzhen bourses this year," said Frank Lyn, China markets leader of PwC, an international accounting firm.