Serrari Group

The outlook for Hong Kong’s initial public offering (IPO) market is promising, according to global consulting firm EY, signaling a turnaround after recent challenges.

George Chan, EY’s global IPO leader, anticipates a significant recovery over the next five years, driven by improving market conditions and potential interest rate cuts. In an interview with CNBC, Chan highlighted a resurgence in U.S. dollar funds flowing back into Hong Kong, underscoring the city’s resilience amid global economic uncertainties.

Marcia Ellis, global co-chair of private equity at Morrison Foerster in Hong Kong, affirmed a strong pipeline for HKSE listings in the second half of the year. She noted streamlined regulatory approvals as a catalyst for increased market activity.

Recent data from EY reveals promising post-IPO performance, with first-day returns averaging 24% in the first half of 2024, a marked improvement reflecting renewed investor confidence.

Bonnie Chan, CEO of Hong Kong Exchanges and Clearing Limited, reported a 50% increase in new listing applications compared to the previous year, highlighting growing interest in Hong Kong as a listing destination.

Looking forward, George Chan expects medium-sized IPOs to dominate the market in the near term, with momentum building towards 2025.

Despite geopolitical tensions and regulatory challenges, EY remains optimistic about Hong Kong’s role as a leading IPO hub in the Asia-Pacific region.

photo source: Google

By: Montel Kamau

Serrari Financial Analyst

4th July, 2024

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