Shanghai Emerges as World’s Leading IPO Destination in the First Quarter of 2020


Shanghai took first place internationally in terms of the collective value of the initial public offerings (IPO) it hosted in the first quarter of the year.

IPO’s raised USD$7.27 billion via the Shanghai Stock Exchange in the first three months of the year, of which the recently launched Science and Technology Innovation board (STAR) accounted for $3.68 billion.

Beijing-Shanghai High Speed Railway also made a major contribution to Shanghai’s fund-raising in the first quarter, with a 30.7 billion (approx. USD$4.5 billion) IPO.

New York came in second in term of IPO proceeds in the first quarter, raising $5.2 billion, while Hong Kong took sixth place with $1.8 billion in funds, for a YoY decline of 36%.

Hong Kong nonetheless came first in terms of the number of its IPO’s at 35 in total, for a 13% increased compared to the same period last year. Mainland Chinese concerns accounted for 86.4% of IPO proceeds during the period.

Hong Kong is expected to surge in IPO proceeds later this year, with the potential IPO’s of Tencent-backed WeDoctor, JD Logistics, China Bohai Bank and detergent maker Blue Moon.

The Hong Kong mainboard was the biggest IPO fund-raiser in 2019, with 144 issues worth around $40 billion. Nasdaq came in second, with 133 issues worth $27.5, while the Shanghai Stock Exchange and Shanghai Star Market took 5th and 6th place respectively, with 50 IPO’s that raised $13.3 billion, and 71 IPO’s that raised $9.5 billion.

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