MARKETS & INVESTING | Staff Reporter, Hong Kong

Hong Kong is the most attractive country for IPOs

It scored 9.1 out of 10 in terms of transaction attractiveness.

Hong Kong ranked first around the world in terms of attractiveness for mergers and acquisitions (M&A) and initial public offerings (IPO), legal firm Baker McKenzie said.

According to a report with Oxford Economics, Hong Kong scored 9.1 in terms of transaction attractiveness. It was followed by Singapore with a score of 8.8 and Luxembourg with 7.9.

Cross-border IPO has been a more sluggish in 2017 than the domestic market, with total proceeds of US$40b.

Baker McKenzie forecasts that cross-border IPO activity will rebound to US$66b in 2018, albeit well short of the peaks reached during previous deal cycles.

The report projects that the Hong Kong Stock Exchange (HKSE) will host the lion’s share of cross-border listings, particularly as Chinese firms increasingly seek overseas investment, closely followed by the New York Stock Exchange (NYSE).

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