Hong Kong Exits Top Three Global IPO Venues as China Clamps Down
- Shanghai overtakes Hong Kong in IPO proceeds after summer
- China’s regulatory crackdown has chilled Hong Kong IPOs
Outside the Exchange Square complex, which houses the Hong Kong Stock Exchange, in Hong Kong.
Photographer: Justin Chin/BloombergThis article is for subscribers only.
Hong Kong is no longer in the top three listing venues globally as a widening crackdown by China on a vast range of industries hits investor sentiment and share prices.
Initial public offerings in the Asian financial hub have raised $37.8 billion so far in 2021, behind both the Nasdaq and New York Stock Exchange as well as Shanghai, data compiled by Bloomberg show.