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Deloitte cuts forecast for Hong Kong IPO fundraising

Accounting firm Deloitte has downgraded its forecasts for the fundraising amount of Hong Kong initial public offerings (IPOs) this year by at least 45%, but it expects the city could still be among the top five IPO venues globally for 2022. Deloitte expects Hong Kong to have about 70 new listings in 2022, raising HKD160bn to HKD180bn, way below its April estimate of HKD330bn. Deloitte said that for the first half, Hong Kong slipped to ninth place in terms of funds raised, while the top five markets in the world are expected to be Shanghai, Shenzhen, South Korea, Dubai, and India. The Nasdaq and the New York exchange also fell out of the top five listing venues, down to seventh and 12th place.

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