China IPO market may hit 39 bln USD in 2012: auditor PwC

 SHANGHAI, July 3 (Xinhua) -- Funds raised through initial public offerings (IPOs) on China's Shanghai and Shenzhen stock exchanges is expected to reach 200 to 250 billion yuan (39.3 billion U.S. dollars) this year, top auditor¹ PricewaterhouseCoopers (PwC) said Tuesday.

The two bourses are estimated to see 200 to 250 IPOs in 2012 as the IPO market in the second half is expected to recover from a slump² in the first half, it said in a research report.

During the first half, China's IPO market experienced a slump as uncertain global economic prospects³ and the eurozone debt crisis dented⁴ investor⁵ confidence.

A total of 77.5 billion yuan was raised through 105 IPOs during the Jan.-June period, down 56 percent and 38 percent, respectively, from a year earlier, the report stated.

Even though the gloomy market drove down the price-to-earnings ratio to a more rational level, the ratio was still higher than the average international level, said Sun Jin, a partner at PwC China.

1 auditor   

n.审计员，旁听着

参考例句：

• The auditor was required to produce his working papers.那个审计员被要求提供其工作底稿。
• The auditor examines the accounts of all county officers and departments.审计员查对所有县官员及各部门的帐目。

2 slump   

n.暴跌，意气消沉，（土地）下沉；vi.猛然掉落，坍塌，大幅度下跌

参考例句：

• She is in a slump in her career.她处在事业的低谷。
• Economists are forecasting a slump.经济学家们预言将发生经济衰退。

3 prospects   

n.希望，前途(恒为复数)

参考例句：

• There is a mood of pessimism in the company about future job prospects. 公司中有一种对工作前景悲观的情绪。
• They are less sanguine about the company's long-term prospects. 他们对公司的远景不那么乐观。

4 dented   

v.使产生凹痕( dent的过去式和过去分词 )；损害；伤害；挫伤（信心、名誉等）

参考例句：

• The back of the car was badly dented in the collision. 汽车尾部被撞后严重凹陷。
• I'm afraid I've dented the car. 恐怕我把车子撞瘪了一些。 来自《简明英汉词典》

5 investor   

n.投资者，投资人

参考例句：

• My nephew is a cautious investor.我侄子是个小心谨慎的投资者。
• The investor believes that his investment will pay off handsomely soon.这个投资者相信他的投资不久会有相当大的收益。