HK to retain crown as top three IPO market in 2023

A report released by PwC showed that Hong Kong is likely to retain its crown as one of the top three IPO markets next year, on the back of stable markets and reforms that fill the city’s deal pipeline. The forecast comes as Hong Kong dropped to fourth globally this year as the number of deals dropped 19% and average deal value declined 59%. By next year, Hong Kong is forecast to see 100 listings that would raise nearly HKD200bn (USD25.69bn). In the first 11 months of this year, Hong Kong saw just 69 IPOs, with the number forecast to hit 80 by the end of this month, bringing the year’s total funds raised to about USD13.6bn. PwC said a stable capital market, as well as regulatory reforms and enhancements, should fill the city’s IPO pipeline with more listing applications next year.