Deloitte predicts a significant drop in Hong Kong’s position as a global listing destination, from the previously estimated third to sixth, slashing its full-year IPO fund-raising outlook for the city to HKD180bn from HKD230bn. However, Deloitte anticipates a potential rebound in the fourth quarter, placing Hong Kong among the top five listing venues. The projection also includes an estimated 100 company listings in Hong Kong in 2023. Amidst these forecasts, AstraZeneca’s head of China business denied rumors of a spin-off listing of its China business in Hong Kong. Concurrently, Chinese diagnostic lab company, Adicon, commenced its retail books to raise almost HKD410m for its IPO in Hong Kong, set to debut on June 30.