LG Energy, India’s LIC Lead Big IPOs to Watch in Asia Next Year
- IPO activity in India, South Korea expected to remain strong
- Pipeline in Hong Kong depends on clarity on rules from Beijing
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The queue of jumbo listings in Asia next year includes the world’s second-largest battery maker in Seoul and an insurer with more than 1.2 million agents and 100,000 employees in Mumbai. Mega deals from Chinese issuers in Hong Kong, meanwhile, may take a while to resume.
Both India and South Korea reached records in first-time share-sale proceeds in 2021 amid a boom of unicorns listings at a time of record low rates and rising stock markets. In Hong Kong, Asia’s traditional venue for IPOs, big sales disappeared on the back of Beijing’s crackdown over sectors ranging from tech to gaming and education, which sparked a selloff in shares.