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IPOs in Asia Face Headwinds After Record Year of Fundraising

  • South Korea, India and Southeast Asia to fill China’s void
  • More homecoming deals from U.S.-listed Chinese firms expected
Meitu Inc. Begins Trading On The Hong Kong Stock Exchange
Photographer: Anthony Kwan/Bloomberg

After a bumper year of stock listings, Asian companies may find it hard to repeat the success in 2022 given the prospect of rising interest rates and China’s tightening grip on Big Tech.

Thanks to a blistering first half amid a global boom, initial public offerings in the region have reached $190 billion so far this year, already a record and up 31% from the whole of 2020. But the momentum has weakened notably in recent months as Beijing escalated a regulatory assault on private enterprise, putting major deals on hold and injecting uncertainties into next year.