PricewaterhouseCoopers (PwC) noted Hong Kong’s IPO fund raising activities slowed down in the first half of this year. The total fund-raising amount reached HK$ 17.1 billion (about $2.2 billion) and is expected to contract by 92 percent year on year. Due to factors that contribute to increasing uncertainty, including the continued outbreak of COVID, geopolitical turmoil, and interest rate hikes across major central banks, PwC also cut its forecast for Hong Kong’s IPO volumes this year in half.
At a recent press conference, PwC said that only 22 new shares will be listed in the first half of 2022, 53 percent less than the number of listed companies in the first half of 2021. Most of the newly listed companies in 2022 are in retail, consumer goods, and services (41 percent), followed by 23 percent in financial services. In addition, 4 companies were listed in the form of introduction but only one switched from GEM of Hong Kong to the main board, but they did not raise any funds.
