Goldman Sachs slips to 30th place in arranging Hong Kong IPOs

It was in first place in 2014.

Goldman Sachs Group Inc. has nearly vanished from the Hong Kong IPO scene this year.

Bloomberg reports that the Wall Street bank has worked on only one completed listing in the city this year, Guotai Junan Securities Co.’s $2.2 billion share sale in March. It ranks 30th among Hong Kong IPO arrangers, behind lesser-known rivals like Shanghai Pudong Development Bank Co. and Zhongtai International Securities Ltd - down from first place in 2014.

This week, Goldman launched its second Hong Kong listing of the year: a $64 million deal from orthopedic device maker AK Medical Holdings Ltd. Goldman hasn’t worked on an IPO that small in the Chinese territory since 2000, when it helped arrange a $40 million share sale for internet incubator Techpacific.com Ltd.

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Photo from Oriez - Own work, Public Domain