"I would say if the interest rate can be further cut down, 1 percent maybe, that would have a significant effect on the IPO market," Chan said.
"We are seeing a reversing trend," he told CNBC."We are seeing more of these funds, they are moving back to Hong Kong. The main reason is that Hong Kong has already factored in these uncertainties." Chan said another supportive factor for Hong Kong IPOs is that many of the companies listed in the market are based in mainland China, where economic growth is"quite satisfactory.""As the economy slowly recovers, a lot of people in China are willing to spend," he said, noting that was especially the case in less developed parts of the country.Also significant for global asset allocation, the U.S.
Bonnie Chan, CEO of Hong Kong Exchanges and Clearing Limited, said during a conference last week that so far this year, the Hong Kong exchange has received 73 new listing applications —"The pipeline is building up nicely," she said, noting about 110 IPOs in total are in line for a Hong Kong listing."All we need is a set of good market conditions so these things get to launch and price nicely," she added."What we need is a strong pipeline," EY's Chan said.
Total venture funding from foreign investors into Greater China deals plunged to $19 billion in 2023, down from $67 billion in 2021, according to Preqin, an alternative assets research firm.
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