Source: Harry Shum (Pexels)
Hong Kong IPOs drop over 30% in 2022
The number of listings declined to 67 from 97 in the previous year.
The number of initial public offerings (IPOs) in Hong Kong dropped by 31% year-on-year to 67 in 2022 from 97, EY reported.
Proceeds from the IPOs also declined by 71% to US$12.4b from US$42.6b previously.
“In Hong Kong, the Hang Seng Index (HSI) has rebounded since November following the appreciation of the Renminbi (RMB) and China’s new COVID-19 measures,” the report noted.
“To attract more IPO companies, HKEx is considering proposing new requirements for ‘Specialist Technology Companies’ under a new Chapter 18C, which will promote the listing of companies in these sectors.”
Read more: Hong Kong to regain status as amongst world’s top IPO market
Across Greater China, total public listings also declined by 22%YoY to 468 from 603.
This also led to a 22% decrease in proceeds to US$98.1b from US$126.6b.
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