Hong Kong pushes Seoul aside to cling to third place in Refinitiv’s 2022 list of the world’s biggest IPO markets, behind Shanghai and Shenzhen

Name: HKEX CEO Nicolas Aguzin on the future of Hong Kong’s capital market
Uploaded: 2022-12-30T09:13:28.000Z
Duration: 13 min 54 s
Description: HKEX CEO Nicolas Aguzin on the future of Hong Kong’s capital market

A strong second half lifted the city from 10th place in June, according to Refinitiv data

The city fared better than its two traditional rivals in the United States, as Nasdaq and the NYSE both dropped out of the top 10

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The city’s IPO standing was helped by a wave of companies rushing to list at the end of the year. Photo: Robert Ng

Enoch Yiu

Published: 5:13pm, 30 Dec 2022Updated: 5:43pm, 30 Dec 2022

Hong Kong clawed its way back to third spot among the world’s largest fundraising destinations for 2022, recovering from a disappointing first half as sentiments improved with the unwinding of Covid-19 quarantine and control rules, according to Refinitiv’s data.

The city’s stock market edged past Seoul to claim third place, but lagged behind Shanghai’s Star Market and the ChiNext market in southern China’s technology hub of Shenzhen, according to Refinitiv.

The city, which was the world’s top destination for initial public offerings (IPOs) in seven of the previous 13 years, was languishing in 10th spot globally in June, but managed to advance in the rankings.

Hong Kong’s standing was helped by the five companies that rushed to list on the final trading day of 2022, which raised HK$394 million (US$50.51 million) between them. Companies raised a combined US$12.69 billion this year in Hong Kong through 75 IPOs, according to Refinitiv’s data.

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HKEX CEO Nicolas Aguzin on the future of Hong Kong’s capital market

Hong Kong was the third biggest IPO market in 2021.