Bonnie Chan lauds ‘resilience’ of HKEX as new listing rules boost pace of Hong Kong’s IPOs
Some 70 new IPO applications have been submitted this year, 46 per cent higher than the second half of last year, HKEX CEO says
The momentum of Hong Kong’s initial public offerings (IPO) has picked up since April, auguring well for the exchange as it claws its way back in the rankings of the world’s top spots for fundraising.
“We are vetting about 110 listing applications, many of them coming in the second quarter,” Bonnie Chan Yi-ting said in an interview with the Post, a week after her 100th day as chief executive officer of Hong Kong Exchanges and Clearing (HKEX), the world’s fourth-largest capital market. “The pipeline is very healthy.”
As many as 70 listing applications have been submitted so far this year, 46 per cent more than the second half of 2023, she said.
Hong Kong’s capital market, which had wallowed in a bear market for three years during the Covid-19 pandemic, has picked up since Chan’s appointment. The city’s benchmark Hang Seng Index rose 11 per cent in her first 100 days, while the market’s average daily turnover jumped 35 per cent to HK$121 billion (US$15.5 billion).
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HKEX Chief Executive Bonnie Chan on building a vibrant market in Hong Kong
Eighteen IPOs have raised a combined HK$8.7 billion since April, a notable pickup from the five that raised HK$2.18 billion in January, and a fallow February.
