VOA标准英语2009年-Asia's IPO Market Awakens

More companies in Asia are lining¹ up to tap the stock markets for capital for the first time since the financial crunch² late last year. Experts say the recent surge in stock prices is bringing in investors³.
　
Floor traders at Hong Kong Stock Exchange (File)

Adani Power of India waited more than half a year for stock market sentiment to improve before selling shares to the public. Its initial public offering, or IPO, opened Tuesday, aiming to raise more than $500 million.

On Wednesday, property company Sena, will list on the Stock Exchange of Thailand - one of at least 14 companies expected to list here in the next few months.

Vichate Tantiwanich, chief marketing⁴ officer in charge of issuers and listings at the exchange, says previously⁵ delayed plans are back on track.

"On the last quarter of 2008, we haven't seen any IPO. They just delayed for 2009," he said.

When the global financial crunch set in late last year, Asian companies faced difficulties raising money to expand their businesses. Banks were hesitant to lend and nervous investors held on to their money.

That appears to be easing, starting with borrowing by large companies and governments early this year. The region's soaring stock prices - up about 70 percent since March - have revived investors' appetite for new stocks. That new demand brings hope for a solid economic recovery - fresh capital for businesses means growth and could lead to more employment.

On Tuesday, China State Construction Engineering Corporation raised $7 billion - in what analysts⁶ say is the world's biggest IPO in more than a year. Since China lifted an IPO moratorium⁷ imposed last year, a series of companies has made it to the market.

The accounting⁸ firm, PricewaterhouseCoopers says some $12 billion could be raised in IPOs in Hong Kong alone this year.

Schive Chi, chairman of the Taiwan Stock Exchange, says at least 17 Taiwan-owned companies based overseas have applied⁹ to list, attracted by recent tax reforms and Taiwan's better relations with China. He added foreign high technology companies are also considering raising capital in Taipei.

"The reason is up to May, there was only one company listed on Nasdaq. For many high-tech¹⁰ companies there's just nowhere for them to list," he said.

Vichate at Thailand's exchange says now is a good time to return to emerging markets, because shares are still cheap and there is room for growth as economies recover.

1 lining   

n.衬里，衬料

参考例句：

• The lining of my coat is torn.我的外套衬里破了。
• Moss makes an attractive lining to wire baskets.用苔藓垫在铁丝篮里很漂亮。

2 crunch   

n.关键时刻；艰难局面；v.发出碎裂声

参考例句：

• If it comes to the crunch they'll support us.关键时刻他们是会支持我们的。
• People who crunch nuts at the movies can be very annoying.看电影时嘎吱作声地嚼干果的人会使人十分讨厌。

3 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会

4 marketing   

n.行销，在市场的买卖，买东西

参考例句：

• They are developing marketing network.他们正在发展销售网络。
• He often goes marketing.他经常去市场做生意。

5 previously   

adv.以前，先前（地）

参考例句：

• The bicycle tyre blew out at a previously damaged point.自行车胎在以前损坏过的地方又爆开了。
• Let me digress for a moment and explain what had happened previously.让我岔开一会儿，解释原先发生了什么。

6 analysts   

分析家，化验员( analyst的名词复数 )

参考例句：

• City analysts forecast huge profits this year. 伦敦金融分析家预测今年的利润非常丰厚。
• I was impressed by the high calibre of the researchers and analysts. 研究人员和分析人员的高素质给我留下了深刻印象。

7 moratorium   

n.(行动、活动的)暂停(期)，延期偿付

参考例句：

• The government has called for a moratorium on weapons testing.政府已要求暂停武器试验。
• We recommended a moratorium on two particular kinds of experiments.我们建议暂禁两种特殊的实验。

8 accounting   

n.会计，会计学，借贷对照表

参考例句：

• A job fell vacant in the accounting department.财会部出现了一个空缺。
• There's an accounting error in this entry.这笔账目里有差错。

9 applied   

adj.应用的；v.应用，适用

参考例句：

• She plans to take a course in applied linguistics.她打算学习应用语言学课程。
• This cream is best applied to the face at night.这种乳霜最好晚上擦脸用。

10 high-tech   

adj.高科技的

参考例句：

• The economy is in the upswing which makes high-tech services in more demand too.经济在蓬勃发展，这就使对高科技服务的需求量也在加大。
• The quest of a cure for disease with high-tech has never ceased. 人们希望运用高科技治疗疾病的追求从未停止过。