Hong Kong's IPO Market Is Poised For A Return To Form

After a bleak first half of 2022, Hong Kong's IPO market regained momentum in the second half of the year. Hong Kong's IPO market ended up No. 3 globally in terms of funds raised in 2022 after Shanghai and Shenzhen thanks to the rebound in deals in the second half of the year. This year, KPMG reckons that the Hong Kong IPO market will remain one of the top listing destinations globally with a strong pipeline of more than 120 companies seeking IPOs targeting fundraising of HKD 180 billion from about 90 deals. Will Hong Kong become the world's top fundraising market in 2023? Given competition from mainland exchanges and the U.S., it seems like a tall order. MORE FOR YOU. While we expect the Hong Kong IPO market to perform strongly in 2023, there are a few factors to consider that the bulls appear to be overlooking. For a true return to form, Hong Kong needs the Ant Group IPO that was suspended at the eleventh hour in November 2020 to be revived. If Ant is approved to go public, then other Chinese fintech companies like JD Digits will know that the tech crackdown has finally ended and will resume their respective Hong Kong IPO plans.