Blame Hong Kong’s clubby world of family-controlled and male-dominated businesses. Close to a third of the city’s 2,500-odd listed companies had no women on the board as of the end of 2020.
Global IPO Market Eyes Record First Quarter Even as SPACs Falter
Bloomberg 3/13/2021 Swetha Gopinath, Myriam Balezou and Julia Fioretti
(Bloomberg) The global market for initial public offerings is headed for its biggest-ever first quarter, even as skepticism grows about the U.S.-led boom in blank-check listings that fueled the frenzy.
A record $162.4 billion has been raised by more than 600 issuers in 2021, the most ever at this point in the year, data compiled by Bloomberg show, with special-purpose acquisition companies accounting for half of the proceeds. In comparison, just $37 billion was raised in the first three months of 2020.
Unprecedented monetary and fiscal stimulus, ultra-low interest rates and until recently at least global markets at record levels helped fuel both traditional and SPAC listings, with issuers rushing to sell while investor demand is hot and valuations high. Stock prices have been underpinned by optimism that vaccines will t
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Hong Kong stock listings this year could surpass last year’s pace, driven by an influx of new economy companies and a “homecoming” of Chinese firms, the head of listings at the territory’s exchange said.
“We are only into March, but from what I see in the pipeline, we will be as busy if not more busy this year,” Hong Kong Exchanges & Clearing Ltd’s head of listing Bonnie Chan (陳翊庭) said in a Bloomberg Television interview yesterday.
Hong Kong is in the midst of a surge in listing, with initial public offerings (IPOs) continuing at a fast clip after reaching a decade-high
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