Hong Kong's raised funds rocketed to HK$39b in 1H
Check out these 2 mega deals.
According to an analysis from the National Public Offering Group of Deloitte Touche Tohmatsu, a professional services organisation, Hong Kong raised more funds in the first half of 2013 over last year although at a lower level than before the financial crisis.
This was driven by two mega-listings in May. These mega-deals, which raised HK$22.5b proceeds, accounted for nearly 57% of total funds raised for the first half. These deals came from SINOPEC Engineering and China Galaxy Securities.
On the other hand, IPOs on Mainland bourses remained stagnant during the period due to the on-going special inspection on IPO applicants' 2012 financial reports conducted by the China Securities Regulatory Commission.
For the first six months of 2013, Hong Kong is expected to see 22 new listings raising HK$39.5 billion, up 28% from the HK$30.8 billion proceeds raised by 32 IPOs during the same period of last year.