RIYADH: China’s initial public offering market seems unflinching in a period of volatility, as it climbed to $57.8 billion so far in 2022, the largest ever for such a period.
According to data compiled by Bloomberg, there have been five IPOs of above $1 billion since January.
In the same time period, there was only one IPO above $1 billion in New York and Hong Kong, while there were none in London.
The report also added that the Asian giant’s share of global IPO proceeds has more than tripled to 44 percent this year, from 13 percent at the end of 2021.
The Bloomberg report, citing market experts, noted that the surge in listings could be driven by concern that economic conditions might worsen later in the year, due to the looming scare of the pandemic.
“They have a weaker outlook for the market and worry that factors including earnings uncertainty could make listing in the future harder than now,” Shen Meng, a director at investment bank Chanson & Co., told Bloomberg.