PricewaterhouseCoopers: It is expected that by 2024, there will be 80 companies conducting IPOs in Hong Kong, with a total fundraising amount exceeding HKD 100 billion for the whole year.

On January 2nd, PwC expects that there will be 80 companies listed on the Hong Kong Stock Exchange (IPO) by 2024, with a total fundraising amount exceeding HKD 100 billion for the whole year. The Hong Kong IPO market is expected to regain its position among the top three fundraising markets globally in 2024. Huang Weibang, the Managing Partner of PwC's Hong Kong Corporate Clients, stated that it is expected that three companies will raise over HKD 10 billion each in 2024, with an average fundraising amount of HKD 15 billion, and these companies will be in the retail or logistics sector. There will be 3-5 18C (the listing mechanism for new special technology companies) companies, with an average fundraising amount of HKD 2 billion. Additionally, 5 companies will be listed on GEM, with an average fundraising amount of approximately HKD 700 million. Regarding the opportunity for the Hong Kong Stock Exchange to enter the top three global IPO fundraising markets in 2024, PwC's Hong Kong Capital Market Services Partner, Huang Jinqian, stated that this is mainly due to the expected interest rate cut by the Federal Reserve within the year. As Hong Kong is an open economy, the IPO market will benefit from the impact of the interest rate cut. In addition, the listing requirements for A-shares in mainland China will become stricter, resulting in fewer companies being able to list, and it is estimated that more of these companies will choose to list on the Shanghai Stock Exchange.