Hong Kong IPOs surged in the first quarter of 2018 and are expected to continue to do so ahead of coming stock exchange reforms, according to a report released yesterday by KPMG.
The accounting firm raised its 2018 forecast for funds raised from Hong Kong IPOs from HK$200 billion ($25 billion) to HK$250 billion. So far this year there have been 62 completed IPOs, a 59% increase year-on-year, lead by listings from banking and real estate firms, the largest deal being by the Bank of Gansu, which raised HK$4.5 billion going public. The total funds raised in the first quarter came to HK$24.4 billion, or an 82% y-o-y uptick.
The Hong Kong Stock Exchange is preparing to rollout a new set of relaxed rules for tech firms looking to list, in a bid to attract further big money deals to the city.