Hong Kong Bourse Profit Rises 19% Last Quarter

Hong Kong Exchanges & Clearing Ltd. (388), the world’s third-biggest bourse operator by market value, said profit climbed 19 percent last quarter as listings surged.

Net income increased to HK$1.02 billion ($131.5 million) in the three months through Dec. 31 from HK$864 million in the same period a year earlier, according to figures derived from the exchange’s full-year and nine-month results. That compares with the HK$1.19 billion average estimate of 18 analysts compiled by Bloomberg.

The number of initial public offerings on the main board jumped to 48 last quarter from 13 a year earlier as the Hang Seng Index rebounded from a nine-month low reached in June, according to the bourse’s website. Funds raised from the share sales more than doubled to HK$107.2 billion. Hong Kong Exchanges shares rose 0.2 percent to HK$121.20 at the midday break in Hong Kong before results were released. The benchmark Hang Seng Index gained 0.2 percent.

To contact the reporter on this story: Kana Nishizawa in Hong Kong at knishizawa5@bloomberg.net

To contact the editor responsible for this story: Sarah McDonald at smcdonald23@bloomberg.net

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