Australia Beats Hong Kong in IPOs for First Time Since 2019
- Deals in Sydney raised $3.5 billion in October, a 7-year high
- Mega offerings in Asia’s financial hub dwindle amid stock rout
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The market for initial public offerings in Sydney has been on a tear, with the amount of deals priced last month surpassing that in Hong Kong for the first time in over two years.
Twenty companies raised a total of about $3.5 billion in Australia in October, the highest monthly value since November 2014. That compares with $732 million booked in three deals in Hong Kong, the lowest amount for a month since April 2020.