Fundraising on Hong Kong’s stock market could increase by as much as 80 per cent this year amid optimism in the tech sector and backing from mainland authorities for Chinese companies to list in the city, according to Financial Secretary Paul Chan Mo-po.
The initial public offering (IPO) market could reach between US$17 billion and US$20 billion this year, Chan said at a tech forum on Wednesday. Last year, IPO proceeds in the city stood at US$11 billion, ranking fourth globally.
The estimates are in line with forecasts from Deloitte and PwC, which ranged from HK$130 billion (US$16.7 billion) to HK$160 billion.
“The free flow of people, capital, goods and information, and the unparalleled connectivity we have established with the mainland and the world, are vital to tech innovation activities and attracting top-tier talent from around the globe
Source: SCMP
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