The Hong Kong stock exchange will once again rank first globally in terms of IPOs this year, cementing its position as the world's leading fund-raising hub, a KPMG report said.
By the end of 2019, the exchange will have completed 160 IPOs, raising a total of 307.8 billion Hong Kong dollars (about 40 billion US dollars), with a historical high of 145 new mainboard listings, the report said.
It will be the second straight year for the exchange to top the world's IPO list. The NASDAQ and the New York Stock Exchange are expected to rank the second and the third respectively in 2019.
The report noted that the results were largely driven by a strong performance in the second half of the year, when two mega-sized deals were completed, which were Alibaba's secondary listing and the listing of Budweiser Brewing Company.
The Hong Kong IPO market is poised to stay competitive in the coming year, with the new economy and international listings to remain as key drivers, the report said. "Alibaba's successful secondary listing could prompt other mega-sized Chinese technology companies currently listed overseas to consider returning to Hong Kong."
© 2017 - All Rights with The Financial Express