PwC: HK IPOs to rebound in 2H

Initial public offerings in Hong Kong will accelerate in the second half of the year leading to a forecasted US$12.9 billion in funds raised from share issues in 2009, up from a previous forecast of US$9 billion, the South China Morning Post reported, citing estimates from PricewaterhouseCoopers (PwC). Hong Kong listings have been in a slump and the city saw only 12 listings in the first half of the year, raising US$2.2 billion. But PwC estimates that as many as 28 new issues will launch on Hong Kong’s main board in the second half of the year, raising US$10.7 billion. Of that, US$3.9 billion to US$5.2 billion will be generated by two to three large offerings by mainland companies.