Mainland China and Hong Kong 2020 Q3 review: IPOs and other market trends

Mainland China and Hong Kong 2020 Q3 review

KPMG’s 2020 Q3 review of IPOs and other market trends in mainland China and Hong Kong

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Despite uncertainties prevailing in 2020 driven by COVID-19 as well as political, social and economic concerns, global IPO proceeds are expected to increase by over 30 percent by the end of Q3 compared with the same period last year.

This increase is mainly due to a surge in fundraising in Asian markets, especially the Shanghai Stock Exchange, which offset a decline in proceeds in the European market. In Q3, mainland China, Hong Kong and the US remained the key contributors to the global IPO market.

Hong Kong reaped the benefits of US-listed Chinese enterprises returning to do secondary listings in the city, raising HKD 210.6 billion across 99 IPOs by the end of Q3 – a 57 percent increase in terms of funds raised compared with the same period last year.

Fundraising in the Hong Kong bourse is expected to overtake the full-year record last year and rank among the top exchanges globally by total proceeds at the end of 2020.

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