SYDNEY : Asian equity capital markets activity, languishing at three-year lows now, is set to get a much needed boost in 2023 from China's expected re-opening to the rest of the world after a spate of COVID-19 lockdowns, dealmakers said.
"As confidence on the recovery builds, we will begin to see the conditions emerge for a resumption of the IPO market." China's gradual re-opening should also prompt global investors to again start putting money in the world's second largest economy, after two years of allocating funds away from it."Many international investors moved money back to the U.S. but China is still the elephant in the room, you can't ignore it," said Harish Raman, Citigroup's head of equity syndicate for Asia Pacific.
In Australia, fundraising via IPOs fell to $633.1 million this year from $9.6 billion in 2021 but Australian equities outperformed with only a small drop. China's Securities Regulatory Commission released draft guidelines last year for Chinese companies keen to list offshore but it has yet to announce final rules.
Wishful thinking…Bwa hahaha!!!