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Investment

HKEX CEO optimistic about Hong Kong's IPO market in H2

July 17, 2019


Abstract : Chief Executive of Hong Kong Exchanges and Clearing Limited (HKEX) Charles Li Xiaojia said Tuesday that he remained optimistic about the initial public offering (IPO) market in Hong Kong in the second half of this year.

HONG KONG, July 16 (Xinhua) -- Chief Executive of Hong Kong Exchanges and Clearing Limited (HKEX) Charles Li Xiaojia said Tuesday that he remained optimistic about the initial public offering (IPO) market in Hong Kong in the second half of this year.

"The momentum will be very strong in H2," Li said on the sidelines of a ceremony for new companies debuting on the main board of the HKEX.

His remarks came as three listing cancellations were seen recently on the stock exchange, including the scrapped IPO of global top brewer Anheuser-Busch InBev's Asian business.

Li described Anheuser-Busch InBev's calling off the listing as an individual case irrelevant with the whole market. "Six companies get listed on the same day today...and I am very optimistic."

Li said the HKEX possesses a unique advantage to maintain a favorable IPO spot for businesses. "We provide not only enormous 'Chinese elements' for companies that want to establish presence in China but also 'international elements' for companies from the Chinese mainland eager to get on the global stage."

Three of the six new companies starting trading on the HKEX come from the Chinese mainland, with the biggest from Shanghai-based property developer Zhongliang Holdings Group Company.

The HKEX welcomed 84 new companies in the first six months of this year, raising about 69.8 billion Hong Kong dollars (about 8.93 billion U.S. dollars) through IPOs. Of the 84 new companies, 17 were new economy firms and three were biotech companies, representing about 40 percent of the total funds raised.

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Keyword: IPO-market listing Hong Kong stock market

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