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Mainland China and Hong Kong 2019 Q3 review: IPOs and other market trends

Mainland China and Hong Kong 2019 Q3 review

KPMG’s analysis and review of the mainland China and Hong Kong IPO markets in 2019 Q3

financial stock background

The U.S., mainland China and Hong Kong have continued to be key driving forces of the global IPO market in the first three quarters of 2019. The A-share market has achieved growth compared to the same period last year as a result of the introduction of the new STAR Market, while Hong Kong’s IPO market remained stable with a strong pipeline especially from the Infrastructure/Real Estate, TMT, Healthcare/Life Sciences and Financial Services sectors.

The A-share market is forecast to record 127 new listings worth a combined RMB 140.3 billion in IPO proceeds during the first three quarters of 2019, an increase from the RMB 115.4 billion raised in the first three quarters of 2018. As for Hong Kong, the Main Board is forecast to raise HKD 124.3 billion (USD 16 billion) in the first three quarters, with the number of IPO listings at 88 – identical to the total numbers as of the end of 2018 Q3.

Amid global economic uncertainties, some mega-sized companies this year have had difficulties listing, faced with a lower offering price, a reduced offer size or a need to postpone. However, based on the Hong Kong IPO’s solid pipeline, KPMG predicts an uptick in listings by the end of the year.

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© 2023 KPMG Huazhen LLP, a People's Republic of China partnership, KPMG Advisory (China) Limited, a limited liability company in Chinese Mainland, KPMG, a Macau (SAR) partnership, and KPMG, a Hong Kong (SAR) partnership, are member firms of the KPMG global organisation of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.

The KPMG name and logo are trademarks used
under license by the independent member firms of the KPMG global organisation.

For more detail about the structure of the KPMG global organisation please visit https://kpmg.com/governance.

京ICP备12028186号-1
京公网安备11010102003233号

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