Appliance Giant Midea’s Big Hong Kong Debut to Set Tone for IPO Revival
- New share sales in the city have been slumping since 2021
- Hillhouse, GIC reportedly in talks to invest in the listing
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Hong Kong’s biggest listing in more than three years presents a major test for the city’s struggling market for initial public offerings.
A successful stock sale and debut have the potential to bolster investor confidence following a yearslong slump that has seen issuance plunge amid China’s economic and regulatory struggles. Hong Kong’s listings have raised just $2.5 billion year-to-date, data compiled by Bloomberg show. In 2021, the figure was $42.8 billion.