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Hong Kong’s new share sales volume surged over 6 times with 53 new members for the first seven months of the year, as the city’s bourse is one of the most active markets across the world amid the risk diversification need.
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Hong Kong Exchanges and Clearing (0388) announced that 53 new companies were listed in the first seven months of 2024, up by 33 percent year-on-year. These include one company transferring from the GEM board to the Main Board and one Special Purpose Acquisition Company (SPAC) merger transaction.
Total initial public offering fundraising reached HK$127.9 billion during the period, surging more than sixfold compared to the same period last year. Overall market fundraising totaled HK$331.8 billion, marking an increase of nearly 200 percent.
Additionally, the total market capitalization of Hong Kong’s securities market stood at HK$44.9 trillion by the end of July, rising 44 percent year-on-year. Average daily turnover in July rose to HK$262.9 billion, soaring almost 170 percent year-on-year.
For the first seven months, average daily turnover reached HK$243.7 billion, reflecting a 120 percent increase from one year ago.
Exchange Traded Funds also saw the average daily turnover hit HK$33.3 billion in the January-July period, 180 percent more than one year ago.
STAFF REPORTER
