HK set for record listings in funds raisedFinance | 4 Jan 2021 2:30 pm
Hong Kong listings could raise between HK$420 and HK$460 billion and regain the top spot for most funds raised in global initial public offerings in 2021, a forecast says.
Funds raised could potentially set a new record high since 2010, PwC said.
New economy and US listed Chinese companies are expected to remain the main drivers, said Eddie Wong, PwC Hong Kong Capital Markets Services partner.
Benson Wong, PwC Hong Kong Entrepreneur Group leader, said: “Supported by a healthy pipeline, 2021 will be a great year for the Hong Kong IPO market. We are confident that the total IPO funds raised willl hit a record high. We expect Hong Kong to regain the top global IPO fundraising markets position for total funds raised in 2021."
Listings of biotechs are expected to remain active in 2021 and Hong Kong is on its way to becoming the best listing platform for such companies in Asia.
There were 154 new listings in 2020, of which 146 were on the main board. These were mostly retail, consumer goods and services companies, and industrials, for which the number of listings fell by 16 percent year-on-year.