China’s IPOs Set to Surpass HK – Justine Lau
From Financial Times:
Mainland China’s equity markets will surpass Hong Kong’s in 2007 as favoured locations for Chinese companies to raise capital as the boom in China’s initial public offerings comes home, according to accountancy firm PwC.
Capital raised by IPOs in the so-called A-share markets in Shanghai and Shenzhen is forecast to grow about 50 per cent to more than Rmb200bn ($25bn) in 2007, PwC said Tuesday.
The level in Hong Kong, meanwhile, is expected to fall 56 per cent from a record HK$342.2bn (US$44bn) in 2006 to HK$150bn in 2007 in the absence of mega deals, such as the HK$124.9bn ($16bn) Hong Kong portion of Industrial and Commercial Bank of China’s record-breaking IPO.[Full Text — subscription required]