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Asia Share Sales Double in Second Quarter Amid Retreat From U.S.

  • Follow-on sales up 127% year-on-year in second quarter
  • More U.S.-traded Chinese firms expected to list in Hong Kong
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Share sales in Asia bounced back to life in the second quarter with issuance more than doubling the amount a year ago as corporate demand for funds coincided with a surge in global stocks.

Firms in the region raised $48.2 billion via follow-on offerings in the three months through June, a 127% jump from the same period last year, according to data compiled by Bloomberg. The largest additional offering of the quarter was GlaxoSmithKline selling its stake in Unilever’s Indian unit for $3.35 billion.