Source: Dubai – Arabic.net
This year saw a slowdown in initial offers globally, as its value decreased by 36% since the beginning of the year until now, compared to the same period last year.
Hong Kong has given up its position among the three largest markets for IPOs, for the first time in 6 years, as the weak start to 2020 affected the IPO activity.
The companies raised about $ 3.2 billion from their shares on the Hong Kong Stock Exchange, becoming the fifth largest, after the exchanges in China and New York, according to Bloomberg data.
The Chinese Shanghai Stock Exchange topped the ranking, after its initial offerings totaled about 14 billion dollars, thanks to the launch of the Beijing-Shanghai high-speed railway company in January at a value of 4.3 billion dollars.
On the New York Stock Exchange, about $ 11.6 billion of initial offers were collected, while the size of the proposals on the Nasdaq Stock Exchange reached about 8.1 billion dollars, and the size on the Shenzhen Stock Exchange of China reached about $ 3.4 billion.
The Hong Kong Stock Exchange has always been experiencing the largest IPO in the world, with up to $ 40 million worth of dollars collected last year. Since 2015, the Hong Kong Stock Exchange has been the first in terms of IPO volumes, except for 2017, when it ranked third with $ 16 billion.