Business
Hong Kong’s IPO Market Soars: Set to Reclaim Top 3 Global Ranking After Hitting $7.14B, Doubling Last Year’s Total
By the end of the year, Hong Kong has the potential to reclaim its position within the top three for IPO rankings, having risen to fifth place in September. According to data from LSEG, the city's IPOs hit a value of US$7.14 billion within the first three quarters of the year, surpassing the previous year's total of US$5.9 billion.
In the initial nine months of this year, 42 corporations have successfully accumulated $7.14 billion through Initial Public Offerings (IPOs) on Hong Kong's primary stock exchange. This amount is twice as much as what was raised the previous year, as per the data unveiled on Friday by the London Stock Exchange Group (LSEG).
The boost in fundraising allowed Hong Kong to climb to the fifth spot on the global IPO rankings in September, up from the 13th position in June.
Kenny Ng Lai-yin, a strategist at Everbright Securities International, predicted that Hong Kong has the potential to ascend and rank as the third or fourth biggest IPO market globally this year. He attributed this possibility to a rise in large-scale deals taking advantage of the increased valuations during the recent surge in the market.
He further mentioned that there will be more opportunities for enhancement in the IPO fundraising total in 2025.
Discover more from Automobilnews News - The first AI News Portal world wide
Subscribe to get the latest posts sent to your email.