From London to Hong Kong, large initial share sales have all but dried up across the world’s major financial centers this year. But the market in China is bustling with activity.
Initial public offerings on mainland exchanges have climbed to $57.8 billion so far in 2022, the largest ever for such a period, according to data compiled by Bloomberg. There have been five IPOs of above $1 billion since January, and one more is on the way. That’s versus just one such sale each in New York and Hong Kong, and none in London.