123 A-share firms raise RMB 409 billion via private placements since 2026
Since the start of 2026, 123 A-share companies have completed private placements, raising a combined RMB 409.00 billion across 140 tranches totaling 47.743 billion shares. Electronics, autos and machinery led in deal count, while coal, electronics and nonferrous metals topped fundraising. Hongqiao Holdings raised the most at RMB 63.518 billion. Among completed placements, 90 tranches traded above issue price, with Kexiang, Honghe Tech and Bright Power Semiconductor showing the largest premiums.
Since the start of 2026, private placement activity in the A-share market has remained brisk. Based on the listing date of the new shares, 123 companies have completed private placements this year, involving 140 tranches in total, with cumulative issuance of 47.743 billion shares and total fundraising of RMB 409.00 billion.
By board, 32 companies on the Shenzhen main board raised RMB 170.77 billion; 40 on the Shanghai main board raised RMB 141.082 billion; 29 on the ChiNext board raised RMB 32.84 billion; and 20 on the STAR Market raised RMB 61.94 billion. By Shenwan industry classification, the completed placements span 24 industries, with electronics, autos and machinery having the most issuers at 20, 13 and 12, respectively. Coal, electronics and nonferrous metals led in fundraising, raising RMB 74.168 billion, RMB 70.608 billion and RMB 69.822 billion, respectively.
By fundraising size, six companies raised more than RMB 10 billion; seven raised between RMB 5 billion and RMB 10 billion; 16 raised between RMB 2 billion and RMB 5 billion; 27 raised between RMB 1 billion and RMB 2 billion; and 67 raised less than RMB 1 billion, of which 38 raised less than RMB 500 million. Hongqiao Holdings posted the largest raise at RMB 63.518 billion, followed by China Shenhua at RMB 60.080 billion and SPIC Capital at RMB 45.285 billion.
Among completed placements, 90 tranches saw their latest closing price exceed the issue price. The largest premiums were recorded by Kexiang Co. , Honghe Technology and Bright Power Semiconductor, with latest closing prices up 508.72%, 302.38% and 274.41% from their respective issue prices.