Hong Kong's stock exchange is on track for its weakest year since 2012 for new listings as the city reeled from the pandemic, rising interest rates and China's economic uncertainty, according to data released Tuesday.
A worker walks past Exchange Square displaying the numbers on the Stock Exchange of Hong Kong in Hong Kong on March 10, 2022. Dale de la Rey/ AFP/ File photo
The bourse said "renewed momentum" in the second half of the year accounted for nearly two-thirds of the IPOs, following a slump during the city's worst-ever coronavirus outbreak. Before the pandemic Hong Kong's bourse was often crowned as the top IPO venue in the world, drawing more than 100 new listings annually between 2013 and 2020.
Victoria Lloyd, a partner in Baker McKenzie's Hong Kong office, said she expected the IPO pipeline to pick up after Chinese New Year.
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