But this year has been anything but regular and confidence is usually beginning to wane. PwC, for one, began the entire year forecasting annual BÖRSEGANG (ÖSTERR.) fundraising could complete as much as US$50 billion but in its handover note slashed this estimate to about US$25 billion, around half of last year’s total.
Even that will downsized target might require a 964 per cent rise in deal worth from the first fifty percent, which would mark the biggest such leap in 13 years.
Reforms in January allowing special-purpose acquisition vehicles to sell shares in Hong Kong came after worldwide interest in special purpose acquisition company ( SPAC) listings was drying up, and only you have since bothered to look public in the area.
Plus despite HKEX’s programs for new offices in the United States and Europe to market itself as a fundraising destination, listings from outside the region are a tough sell, too. This year’s only debut from outdoors greater China came courtesy of Italian yachtmaker Ferretti, whose stock has tumbled almost 15 per cent through the price of its IPO in March.
When pushed, HKEX chief executive Nicolas Aguzin told the FT in May that this exchange had a “strong” pipeline of more than two hundred companies waiting for marketplace conditions to improve prior to going public: “We’ve by no means had a downturn that lasts forever – they will list. ” But Aguzin has been pointing to that same clutch associated with companies in the queue for almost a year.
If a thaw is to come, brand new listings are more likely to originate from the strategic areas that Beijing supports. As with so much in Hong Kong, the city’s IPO market should increasingly take the direction from the landmass.
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