MARKETS & INVESTING | Staff Reporter, Hong Kong

IPO market to soar in 2021

In 2020, a 25% growth in total IPO funds raised was recorded.

The Hong Kong IPO market is expected to boom in 2021 with a total fundraising forecast of between $420 to $460b, according to professional services network PwC.

The main drivers for this surge would be the new economy and US-listed Chinese enterprises, and the active listings of biotech companies in 2021 would also pave the way for Hong Kong to be the best listing platform for these kinds of organisations in Asia.

In 2020, there were 154 new listings in terms of IPOs, 146 of which were mainboard listings composed mostly of retail, consumer goods and services companies as well as industrials. This number was 16% lower than that of 2019.

"There is a significant 25% increase in terms of total funds raised in 2020 compared to 2019, with total funds raised of $397.7b. Hong Kong ranks second in total funds raised among the global IPO markets and has been ranked among the top three globally for more than 10 consecutive years," according to PwC Hong Kong capital markets services partner Eddie Wong.

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