Asia-Pacific IPO proceeds fell by 70% to USD12.7bn in Q1 2023, according to a report by professional services firm EY. The report stated that investors in the region were adopting a wait-and-see approach, as the number of IPO deals dropped by 6% to 175. China and Hong Kong markets saw less IPO activity than usual despite easing pandemic control measures. However, Asia-Pacific IPO deals continued to dominate globally, accounting for 59% of global IPO deals, with China representing more than 40% of all global proceeds. IPO activity in Southeast Asia was more encouraging, with the number of deals rising by 75% to 51, netting USD1.4bn in proceeds - 40% higher than in the same period a year earlier.
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