Hong Kong’s IPO Market Hits a 15-Year Low, but Deloitte Sees Silver Lining Ahead

Hong Kong’s stock exchange has experienced its quietest first quarter since 2009, with only 12 new listings raising a mere HK$4.7 billion ($600 million), marking a significant downturn in the city’s IPO activity.

This slump has pushed the Hong Kong Stock Exchange down to 10th place globally in IPO proceeds for the early months of 2024, a notable decline from its sixth place ranking throughout the previous year, according to accounting and consulting firm Deloitte.