Hong Kong IPO market slows after breakneck start to the year

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By Jonathan Breen
31 Mar 2021

Demand in Hong Kong’s IPO market is cooling after a scorching start to the year. This week combined secondary turbulence, disappointing debuts from three new listings and heavy selling of Chinese technology stocks. Investors are turning cautious, reports Jonathan Breen.

Hong Kong ECM bankers have been working at a breakneck pace so far this week. The HKEX has seen $16.12bn in new listings, including secondary offerings by US-listed Autohome, Baidu and Bilibili, according to Dealogic data. During the same period of 2020, $1.84bn was raised through IPOs, Dealogic shows. But ...

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