Initial public offerings (IPOs) have plummeted globally including in Asia-Pacific (APAC) in 2022, but thanks to a burst of activity on China’s exchanges, the APAC region has expanded its share of new listings compared with a year ago and now accounts for most of the deals and funds raised worldwide, according to a report from EY, reports the South China Morning Post.
Global IPOs declined 44% to 992 in the first nine months of the year compared with the same period in 2021, with proceeds falling 57% to $146 billion, according to the report released on Thursday. The number of IPOs in Asia declined 25% to 608, and proceeds fell 22% to $100.8 billion during the same period.
However, Asia accounts for 61% of the global number of IPOs and 69% of the proceeds raised so far in 2022, up from 46% of the deals and 38% of the proceeds in 2021. In addition, Asia has played host to five of the top 10 IPOs so far.