The latest report from KPMG, Chinese Mainland and Hong Kong IPO Markets 2024 Q1 Review reveals that in 2024 Q1 the global IPO market recorded an approximate 10% decline in number of deals, but about a 15% increase in IPO proceeds as compared to the same period last year. This trend reflects the ongoing market challenges from 2023 continues to impact the global IPO markets.
The US stock exchanges have reclaimed their leading positions among global IPO stock exchanges, overseeing six of the top ten largest IPOs during the period. On the other hand, the Chinese Mainland markets recorded a decrease in IPO activities in the quarter. However, the two exchanges in the region managed to maintain their rankings among the top 5 globally.
Hong Kong’s IPO market is facing significant challenges, as demonstrated by the mere 12 IPOs completed in the quarter, reflecting a 35% decreased compared to the previous period. Nevertheless, Hong Kong’s strong financial infrastructure continues to attract IPO applicants, showcased by the city’s growing IPO pipeline. The interest rate movements and economic stimulus policies are major determinants for IPO activities for the rest of 2024.
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