Hong Kong’s IPO funds seen to slide by 39%

Accounting firm Deloitte has further cut its forecast for the fundraising amount of Hong Kong's IPOs this year by 39% to HKD110bn (USD14bn). Deloitte, however, still believes the financial hub could be in the top three IPO venues globally this year, partly driven by the economic stimulus in China as well as the expanding financial connectivity with the mainland. The firm expects Hong Kong will see 47 newly listed firms in the first nine months of this year, down by 36% from a year ago, that will raise 81% less in fresh funds at HKD54.7bn.