Immigrate to Hong Kong focus on Hong Kong immigration economy: According to a report by The Wall Street Journal, Hong Kong's IPO fundraising volume so far this year is $27.1 billion, including the $3.7 billion IPO raised by Dalian Wanda Commercial Properties. Wanda Commercial Properties finalized its offering price this Tuesday.
Hong Kong also ranked second last year, continuing to trail the New York Stock Exchange's $73.4 billion in IPO fundraising volume this year, but surpassing Nasdaq's $23.9 billion. The London Stock Exchange has raised $22.6 billion in IPO funds year-to-date.
The report notes that although Hong Kong missed out on Alibaba's $25 billion IPO financing, Hong Kong's equity capital market, including convertible bonds, has raised approximately $265 billion year-to-date, an increase of 11% over the full-year level of last year.
The largest IPO in the Hong Kong market currently comes from Australia, namely the $4.9 billion IPO conducted by the Australian health insurer Medibank Private Ltd in November.
In the final months of this year, mainland companies have been listing in Hong Kong in a steady stream. In addition to Wanda Commercial Properties, there is China's largest nuclear power company, CGN Power Co., Ltd., which raised $3.2 billion, and BAIC Motor Corporation Ltd., which raised $1.4 billion, allowing the Hong Kong market to show momentum and catch up.
Jonathan Penkin, co-head of financing for Goldman Sachs in Asia Pacific (excluding Japan), expects a series of domestic financial institutions (including brokerages, insurance companies, and asset management firms) to go to Hong Kong for large-scale IPOs next year.
The IPO of Shengjing Bank, the largest city commercial bank in Northeast China, will be the first such financial institution to list in Hong Kong since March of this year. The bank is seeking to raise up to $1.4 billion and will price later this week. In March of this year, Harbin Bank listed in Hong Kong, raising $1.1 billion.
Other Chinese banks that may list next year include Bank of Beijing and Bank of Shanghai. Among brokerages, Huatai Securities and GF Securities may both launch $1 billion IPOs next year. Taikang Life Insurance may raise up to $2 billion, and China Huarong Asset Management Co., Ltd. may raise approximately $3 billion.
In addition to IPOs, Hong Kong also conducted multiple large-scale placement transactions this year, including the $6.9 billion placement by CITIC Pacific to acquire parent company assets. After this transaction was completed, CITIC Pacific was renamed CITIC Limited. Another major placement was the private placement by Ping An Insurance, which raised $4.7 billion.