The Limited Times

Now you can see non-English news...

Ernst & Young expects Hong Kong to remain the global IPO champion next year. Macau Stock Exchange "is difficult to grab business"

2019-12-17T10:41:00.141Z


Alibaba (9988) returned to the Hong Kong stock market, leading Hong Kong to become the world champion in IPO fundraising this year. According to a report issued by EY, the amount of IPO funds raised in Hong Kong this year increased by 8% year-on-year to 310.5 billion yuan, the largest in the world. Wei An


Financial news

Written by: Wen Haozong

2019-12-17 18:33

Last updated: 2019-12-17 18:34

Alibaba (9988) returned to the Hong Kong stock market, leading Hong Kong to become the world champion in IPO fundraising this year. According to a report issued by EY, the amount of IPO funds raised in Hong Kong this year increased by 8% year-on-year to 310.5 billion yuan, the largest in the world.

However, Cai Yongrong, head of EY's Asia Pacific listing services, pointed out that next year Hong Kong's first IPO fundraising will be difficult, and it will depend to a large extent on Saudi Arabia's state-owned oil maker Saudi Aramco. Regarding rumors that Macau will set up a stock exchange denominated in RMB, he believes that competition in Hong Kong is limited.

It will be difficult to continue to win the fund-raising championship next year

At the press conference, Cai Weirong pointed out that it is expected that the total amount of IPO funds raised in Hong Kong next year will range from 220 billion to 350 billion yuan. One of the major factors is whether Saudi Aramco, the new giant stock, will choose Hong Kong as an overseas listing place. However, he believes that Hong Kong ’s chances of continuing to be the champion of the year-round fundraising next year are low, because Saudi Aramco ’s huge fundraising will be the biggest factor in the ranking of the fundraising amount. At present, Saudi Aramco has a better relationship with the London Stock Exchange.

In addition, President Xi Jinping will visit Macau from tomorrow (18th) and reportedly will announce support for the establishment of a stock exchange denominated in RMB. Cai Weirong commented that it is not easy to establish a competitive exchange. At present, the total market value of the Hong Kong stock market is as high as 3.5 billion yuan, which is already a very mature securities market. The factors include Macau ’s RMB capital pool, local economic scale, and supporting facilities. In terms of development conditions, there is still a considerable distance from Hong Kong.

He also cited the example that the Singapore government has supported the development of local exchanges for many years, but it has always been difficult to challenge Hong Kong's status. The distance between the two places in terms of market value is getting further and further. difficult".

According to the Ernst & Young report, a total of 159 companies are expected to list in Hong Kong this year, raising a total of 310.5 billion yuan. The number of IPOs has fallen by 22% year-on-year, but the amount of funds raised has increased by 8%.

Downplay Hong Kong's new stock market next year Deloitte: there may not be large new shares of the same level in Ali

KPMG raises HK $ 307.8 billion in new shares this year

Saudi Aramco confirms the above-listed price raise of 25.6 billion US dollars

EY

Source: hk1

All news articles on 2019-12-17

You may like

Life/Entertain 2024-02-28T02:13:18.403Z

Trends 24h

Latest

© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.