Hong Kong is World’s Top IPO Fundraising Market in 2016
Equity Market
Despite dropping to an eight-year low in total funds raised, Hong Kong was the top IPO fundraising exchange in 2016. According to data from the Stock Exchange of Hong Kong (HKEx), HK$194.8 billion (US$25.1 billion) was raised in 120 Hong Kong IPOs, down 25.96% on IPO funds of HK$263.1 billion raised in 124 IPOs in 2015. The Shanghai Stock Exchange and New York Stock Exchange (NYSE) ranked second and third with IPO funds raised of US$16.3 billion and US$14.7 billion, respectively. Some have attributed the large drop in IPO fundraisings worldwide to uncertainties surrounding the slow global economic recovery from the 2008 financial crisis, the referendum for Brexit in the UK and the presidential election results and rising interest rates in the US. Read more…