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17/12/2019 17:53

HK 2020 IPO funds raised seen at HK$220bn to HK$350bn

[ET Net News Agency, 17 December 2019] Due to trade tension, investor skepticism and
geopolitical uncertainty, global IPO is expected to see a year-on-year decrease in both
deal volume (1,115, down 19%) and proceeds (US$198bn, down 4%), according to a report
released today by Ernst & Young (EY).
Technology continued to lead global IPO activities in terms of deals and proceeds in
2019. Driven by large IPOs in 2H2019, the Hong Kong Stock Exchange (HKEX)(00388) ranked
top among global bourses by both deal volume and proceeds.
Thanks to the early success of the science and technology innovation board (STAR),
Shanghai Stock Exchange (SSE) ranked third among global bourses by deals and fourth by
proceeds.
Three out of the global top 10 IPOs came from mainland China and Hong Kong, namely
Alibaba (09988), Budweiser APAC (01876) and Postal Savings Bank of China (PSBC).
In 2019, 200 companies are expected to be listed on the A-share market, raising
RMB252.8bn, with a YOY increase by deals (90%) and proceeds (82%), hitting a record high
since 2012, which was mainly due to the early success of STAR and mega IPOs with funds
raised over RMB10bn. IPO activities on A-share became more robust in 2H 2019, when a total
of 136 companies were listed and funds raised amounted to RMB192.4bn, representing 68% and
76% of total deals and proceeds respectively.
Proactive fiscal policies and flexible and appropriate monetary measures will drive the
capital market upward. 5G technology is also expected to drive the IPOs of innovative tech
companies. Thus EY expects IPOs on the A-share market to remain robust in 2020.
Moreover, Hong Kong is expected to face downside risk due to the slow economy or market
as a result of trade tension and geopolitical uncertainties. However, EY predicts Hong
Kong will see steady performance against ongoing headwinds with estimated funds raised of
HK$220bn. On the other hand, the amount will reach to approximately HK$350bn if there are
mega IPOs in Hong Kong next year. (KL)

Remark: Real time quote last updated: 26/02/2020 15:32
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