Hong Kong Passes New York for No.2 in Attracting IPOs
Top Exchanges for IPOs this year thru November 2006, according to World Federation of Exchanges data (pdf):
- London, the world leader for IPO equity, raised $48.93 billion
- Hong Kong became No.2 with $35.37 billion in IPOs, almost double the amount raised last year
- New York Stock Exchange slipped to third position with $33.61 billion
- 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.