Hong Kong IPO market set to rebound in H2 - KPMG

Hong Kong, IPO, rebound, KPMG, increase, second half of the year, ChinaThe number of listings in Hong Kong is set to increase in the second half of the year, according to KPMG China. The consulting firm has predicted a “major rebound” for the initial public offering (IPO) market. The forecast comes after Hong Kong enjoyed an increase in the number of listings in the first half of the year. According to KPMG’s Chinese Mainland and Hong Kong IPO markets 2023 mid-year review, Hong Kong has a stable IPO pipeline. It has also seen the first company listing under the new Chapter 18C regime, which is designed to encourage tech companies specialising in new technology like artificial intelligence and robotics to list in Hong Kong. “In the long term, we are hopeful for major growth in the IPO markets driven by new technologies," said Irene Chu, partner, head of new economy and life sciences, Hong Kong, KPMG China. The report will be welcomed by Hong Kong Exchanges and Clearing, which has just launched a new settlement service designed to shorten the time between the pricing and trading processes in an IPO. “By shortening the time between IPO pricing and the start of trading, [we can] enhance market efficiency and strengthen the competitiveness and attractiveness of Hong Kong’s IPO market,” said HKEX chief executive Nicolas Aguzin. ©2023 funds global asia

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