Despite widespread civil unrest in 2019 the Hong Kong Stock Exchange has once again topped the global market for initial public offerings (IPO) according to a new report from KPMG.
KPMG’s IPO markets 2019 review report indicates that Hong Kong will have completed 160 IPO’s by the end of 2019, raising HKD307.8 billion (approx. USD$39.53 billion) in total.
New Main Board listings in Hong Kong hit a record high of 145, with KPMG imputing the high funding level to mega-deals such as Alibaba’s secondary listing and the Budweiser Brewing Company listing.
A-share fundraising on the mainland hit an eight year high of 251.9 billion yuan from a total of 200 new listings by the end of 2019, spurred significantly by the successful launch of the tech-focused STAR Market.