Hong Kong Passes New York for No.2 in Attracting IPOs

Hong Kong surged past New York this year and became the world's second most popular destination for initial public offerings with over $35 billion raised in IPOs thru November . London is the No.1 in terms of dollar amount raised in IPOs this year, reports AP.

Top Exchanges for IPOs this year thru November 2006, according to World Federation of Exchanges data (pdf): 

  1. London, the world leader for IPO equity, raised $48.93 billion 
  2. Hong Kong became No.2 with $35.37 billion in IPOs, almost double the amount raised last year
  3. New York Stock Exchange slipped to third position with $33.61 billion
  4. Euronext is at No.4 with $17.75 billion raised in IPOs

This year Hong Kong registered the world's biggest ever IPO: the $21.9 billion offering in October by Industrial & Commercial Bank of China. Hong Kong is heavily dependent on listings by mainland Chinese companies. The Chinese companies make up nearly 50% of the total market capitalization of $1.59 trillion of the Hong Kong Exchange. 

See more latest statistics from Hong Kong Exchange here.

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