IPO markets in HK, mainland challenged
Updated: 2012-12-20 14:16
By Hu Yuanyuan (chinadaily.com.cn)
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The initial public offering markets of Hong Kong and the Chinese mainland are expected to see the weakest performance since the financial tsunami in 2009, accounting firm Deloitte Touche Tohmatsu said in a report on Thursday.
While the Hong Kong IPO market may record a mild rebound in 2013, the A-share market is likely to face a challenging outlook resulting from enhanced regulatory actions, the report said.
With 62 new listings raising HK$89.4 billion ($11.5 billion), Hong Kong is expected to close 2012 with the most lackluster performance since 2009. The figures also represent a year-on-year decrease of 31 percent and 67 percent respectively from 90 listings and HK$271.4 billion in 2011.
About half of the proceeds raised in 2012 came from new listings in the fourth quarter, which were driven by improved market sentiment and liquidity from economic stimulus programs of the US Federal Reserve and the European Central Bank.
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