Hong Kong Powers Ahead With IPOs
Tuesday, January 05, 2010
After leading the world in terms of IPOs in 2009, raising nearly USD31bn, the
Hong Kong stock market is expected to perform even better in 2010, according
to a report published by PricewaterhouseCoopers this week.
The firm says that it expects more than 60 IPOs in 2010, raising in excess
of USD38bn. Partner Edmond Chan said that 55 of the new issues would take place
on the main market, with the remainder on GEM.
China will also see large numbers of IPOs during the year, with Shanghai and
Shenzhen taking the lead, raising USD47bn together. "Investors are very
confident in future growth of China's economy and are willing to invest in China's
listed companies," said PwC's Frank Lyn.
For comparison, the NYSE racked up just USD14bn in IPOs in 2009, with the London
Stock Exchange trailing with a puny USD2.5bn.
These may be quite scary figures for anyone who fears the consequences of
Asian financial dominance, financial workers in London and New York, say; but
for international investors the boom seems to offer more opportunity than risk.
Hong Kong's market in particular has regulatory standards which are every bit
the equal of those in the West.
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