Published: 5:00pm, 27 Sep 2024Updated: 5:15pm, 27 Sep 2024
Hong Kong could potentially climb back into the top three among global initial public offering (IPO) markets by the end of the year, as analysts believe the recent bull run is set to attract some massive deals.
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A total of 42 companies raised US$7.14 billion via IPOs on the main board of the Hong Kong stock exchange in the year’s first nine months, double the total from a year earlier, according to London Stock Exchange Group (LSEG) data released on Friday.
The increased fundraising helped Hong Kong to rise to fifth on the global IPO league table in September, from 13th in June.
“Hong Kong could rise further to become the third- or fourth-largest IPO market worldwide this year, as more large deals tap the increased valuations amid the recent market bull run,” said Kenny Ng Lai-yin, a strategist at Everbright Securities International.
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The IPO fundraising amount in 2025 will have further room for improvement, he added.