HK stays as global IPO hub and share sales to resume on China’s mainland
Print Edition
Hong Kong is likely to remain as one of the global centers for initial public offerings this year, while the IPO market on the Chinese mainland is set to resume next month after being suspended for nearly a year, an industry report said yesterday.
A total of 43 companies have launched IPOs on the Hong Kong stock exchange by the end of September, raising HK$58.7 billion (US$7.6 billion), Deloitte Touche Tohmatsu said in a report.
The proceeds raised rose 31.3 percent year on year, with nearly one-third of the funds received from 21 IPOs that were completed in the third quarter, the report said.
News that the Chinese economy was showing positive signs of growth helped boost the number of listings and proceeds raised, according to Dick Kay, eastern China regional partner of the national public offering group of Deloitte China.
Deloitte expects 65 to 75 new offerings on the Hong Kong market by the end of 2013, raising HK$100 billion to HK$130 billion, and help the city remain as one of the top-five global IPO centers. New York leads the global IPO race by proceeds raised so far this year.
Meanwhile, Deloitte believes the IPO market on the Chinese mainland, which has been suspended for 11 months, could resume around the Third Plenary Session of the 18th Central Committee of the Communist Party of China in November.
Anthony Wu, China A-Share capital market leader of the national public offering group at Deloitte China, forecasts 25 billion yuan (US$4.1 billion) to 40 billion yuan to be raised from around 20 to 30 IPOs on the yuan-denominated A-share market by the end of this year.
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