Deals
Record-Setting $49 Billion Asia IPO Boom Is Likely to Taper Off
- Asian firms raised $49.3 billion through IPOs in first quarter
- Pipeline centered around tech, growth stocks: BofA’s Highfield
This article is for subscribers only.
As in the U.S., initial public offering activity out of Asia has had its strongest-ever start to a year. That frenzy for new shares is likely to taper off as demand falls back to earth in the next few months.
Asian companies, like their global peers, notched their best first quarter for listings ever, thanks to a flood of liquidity during the pandemic, super-low interest rates, and rallying stock markets. The firms raised $49.3 billion through first-time share sales at home and abroad -- a 154% jump over the same period in 2020, data compiled by Bloomberg show.