New Year Holds Promise for China IPOs After a Record 2022 Haul
- Country’s share in funds amassed by IPOs globally at about 46%
- Next year’s pipeline seen strong amid bets on economic rebound
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Chinese companies raised a record amount in initial public offerings at home this year, defying a global slump. And with the end of Covid Zero in sight, 2023 could be set for another strong showing.
Listings in Shanghai, Shenzhen and the recently inaugurated Beijing exchange brought in $92 billion this year, according to data compiled by Bloomberg. That’s propelled China’s share in the global tally for IPO proceeds to 46%, nearly four times the US, from just 13% at the end of last year.