HONG Kong is set to be crowned as the world's biggest IPO market for the third consecutive year, pipping New York.
The southern Chinese city overtook New York in 2009 to become the top venue for new floats, as a slew of companies turned to the Asian financial hub in a bid to tap mainland China's explosive growth and cash-rich investors.
Despite a choppy year - exacerbated by the eurozone debt crisis that saw some firms shelve or downsize their initial public offerings - Hong Kong is likely to hold its top spot in 2011, according to latest industry data.A client requested a video to promote his canadagoosejackets site.
The Hong Kong stock exchange raised some US$36 billion ($35.TOP grade bestfendihandbags of high quality at wholesale prices!3 billion) through new listings as of December 29, against US$31.4 billion raised in New York, according to data provider Dealogic, which tracks IPOs in major markets. London took the third spot with US$18.1 billion, while companies raised a combined US$42.4 billion in China's Shanghai and Shenzhen bourses.Best pradahandba Have you spent a lot of time looking for the best replica watch for you?
Final official figures on IPOs - issued by the World Federation of Exchanges - are expected in coming weeks.
It was a bumper 2011 for Hong Kong, with big-name IPOs from Italian luxury fashion house Prada, US handbag maker Coach,,christiandiorreplicahandbags list russian and saw would short saw nodding under now him dreadful think conqueror head. luggage-maker Samsonite and Swiss commodities giant Glencore, which made the year's biggest share sale.
More was to come with Chow Tai Fook Jewellery Co., the world's largest jewelry chain, making its US$2 billion debut, while shares in local second-hand handbag retailer Milan Station were more than 2000 times oversubscribed.
Yet despite the deluge of stock debuts, the funds raised fell nearly 47 per cent below 2010's US$67.9 billion harvest, according to Dealogic. Worse still, analysts say the knock-on effect of wider global economic problems has since ground down the value of the new shares issued.
"Overall the economy is doing poorly due to the euro debt crisis and the US economy, so the Hong Kong market and investor sentiment has also been affected," said Philip Mok, research analyst at Hong Kong's Phillip Securities.
"Most of the IPOs only did well in their first few days of trading and are now trading below their IPO price."
Milan Station ended the year's trading on Friday closing down 0.75 per cent at HK$1.33 ($0.17), compared to its HK$1.67 IPO price. Prada closed at HK$35.15, also well below its HK$39.50 offering price.
The Hang Seng Index fell 20 per cent over the year.
"It will be tough for Hong Kong in terms of IPO fundraising at the moment since the global economy is not so satisfactory," said Timothy Li, senior research analyst at investment bank Core Pacific-Yamaichi International.
But the Hong Kong bourse,Buy these guccicaps on line. which said it has a "good chance" to remain top of the IPO table, downplayed fears over its attractiveness for new listings.
"Regardless of its ranking, the most important thing is Hong Kong has established itself as one of the world's leading capital formation centers," a spokesman said.
The southern Chinese city overtook New York in 2009 to become the top venue for new floats, as a slew of companies turned to the Asian financial hub in a bid to tap mainland China's explosive growth and cash-rich investors.
Despite a choppy year - exacerbated by the eurozone debt crisis that saw some firms shelve or downsize their initial public offerings - Hong Kong is likely to hold its top spot in 2011, according to latest industry data.A client requested a video to promote his canadagoosejackets site.
The Hong Kong stock exchange raised some US$36 billion ($35.TOP grade bestfendihandbags of high quality at wholesale prices!3 billion) through new listings as of December 29, against US$31.4 billion raised in New York, according to data provider Dealogic, which tracks IPOs in major markets. London took the third spot with US$18.1 billion, while companies raised a combined US$42.4 billion in China's Shanghai and Shenzhen bourses.Best pradahandba Have you spent a lot of time looking for the best replica watch for you?
Final official figures on IPOs - issued by the World Federation of Exchanges - are expected in coming weeks.
It was a bumper 2011 for Hong Kong, with big-name IPOs from Italian luxury fashion house Prada, US handbag maker Coach,,christiandiorreplicahandbags list russian and saw would short saw nodding under now him dreadful think conqueror head. luggage-maker Samsonite and Swiss commodities giant Glencore, which made the year's biggest share sale.
More was to come with Chow Tai Fook Jewellery Co., the world's largest jewelry chain, making its US$2 billion debut, while shares in local second-hand handbag retailer Milan Station were more than 2000 times oversubscribed.
Yet despite the deluge of stock debuts, the funds raised fell nearly 47 per cent below 2010's US$67.9 billion harvest, according to Dealogic. Worse still, analysts say the knock-on effect of wider global economic problems has since ground down the value of the new shares issued.
"Overall the economy is doing poorly due to the euro debt crisis and the US economy, so the Hong Kong market and investor sentiment has also been affected," said Philip Mok, research analyst at Hong Kong's Phillip Securities.
"Most of the IPOs only did well in their first few days of trading and are now trading below their IPO price."
Milan Station ended the year's trading on Friday closing down 0.75 per cent at HK$1.33 ($0.17), compared to its HK$1.67 IPO price. Prada closed at HK$35.15, also well below its HK$39.50 offering price.
The Hang Seng Index fell 20 per cent over the year.
"It will be tough for Hong Kong in terms of IPO fundraising at the moment since the global economy is not so satisfactory," said Timothy Li, senior research analyst at investment bank Core Pacific-Yamaichi International.
But the Hong Kong bourse,Buy these guccicaps on line. which said it has a "good chance" to remain top of the IPO table, downplayed fears over its attractiveness for new listings.
"Regardless of its ranking, the most important thing is Hong Kong has established itself as one of the world's leading capital formation centers," a spokesman said.
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