Business Standard

Hong Kong's IPO market withers as billion-dollar listings lapse

China's regulatory onslaught leads to slowdown in the hub's market

Baidu Inc’s Chairman Robin Li at the firm’s listing on Hong Kong Stock Exchange, on March 23. (Photo: Reuters)
Premium

Baidu Inc’s Chairman Robin Li at the firm’s listing on Hong Kong Stock Exchange, on March 23. (Photo: Reuters)

Julia Fioretti | Bloomberg
Hong Kong’s primary-listing market is going through a dry patch in what is normally the busiest time of the year.
 
Several potential billion-dollar initial public offerings ranging from supermarket owner WM Tech Corp. to health-care startup We Doctor Holdings Ltd. have let their applications lapse in recent weeks as regulatory scrutiny and stock market weakness crimps listings.
 
Large IPOs falling by the wayside are a further sign of how China’s regulatory onslaught is causing a downturn in the financial hub’s market for first-time share sales. President Xi Jinping’s push to align companies with his vision of “common prosperity”

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Oct 18 2021 | 1:36 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com