Hong Kong lost its leading position as a global platform for IPO
Hong Kong is no longer included in the three most popular platforms for an initial public offering (IPO) for the first time in six years, losing the leading positions amid weak activity in the sphere of the listing from the beginning of 2020, according to Bloomberg.
According to the Agency, the company this year has attracted only $3.2 billion through the placement of shares on the Hong Kong stock exchange, sliding it on the fifth place in terms of attracted funds from the IPO and leaving behind the stock exchanges of Shenzhen and new York.
The leaders were Shanghai stock exchange is the volume of the funds attracted from the beginning of the year amounted to almost $14 billion. Such results, in particular, due to the IPO of $4.3 billion, conducted by the Beijing-Shanghai High-Speed Railway Co. Ltd. (BSHSR), operator of the high speed railway Beijing-Shanghai, in January.
About $11.6 billion was raised during the floatation on the new York stock exchange and $8.1 billion on the Nasdaq, while the Shenzhen stock exchange ranked fourth with IPO at $3.4 billion.
Last year, the stock exchange of Hong Kong was in first place in the world, attracting more than $40 billion in 2015 she was always the most popular venue for IPOs, with the exception of 2017, when she was in third place with $16 billion of borrowed funds, according to Bloomberg data.
However, the Agency notes that there is still more than half of the year during which Hong Kong can restore its position, given a number of impending major placements, including a secondary listing JD.com Inc. and NetEase Inc.