The number of Chinese companies seeking to list in Hong Kong is rising, but the level will not exceed that of 2023, Bloomberg News reported Tuesday.
The lower number is attributable to mainland China's restrictions of Chinese companies seeking foreign flotations, the report said.
Dealers in the city are hopeful the IPO market will pick up alongside economic recovery and the Hang Seng rising by nearly 20% so far this year, according to Bloomberg.
IPOs in the city have raked in $9 billion so far in 2024, higher than 2023's $5.6 billion, the lowest since 2001, Bloomberg reported.
China's market is slowly getting attention too following its stimulus packages aimed at addressing deflation, according to the report, citing Cathy Zhang, the head of Asia Pacific equity capital markets at Morgan Stanley.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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