Hong Kong is expected to maintain its top position globally in terms of total funds raised from initial public offerings, while Shanghai will jump to second place in 2016, according to a new report issued by KPMG.
Hong Kong is estimated to see companies raising funds totaling HK$195 billion (US$25 billion) from IPOs this year, securing its number one position for a second consecutive year. IPO proceeds, however, will register a three-year low and decline 26% from HK$263 billion (US$33.9 billion) in 2015.
Shanghai will surpass New York Stock Exchange, NASDAQ and London Stock Exchange to become the second largest IPO market, witnessing companies raising HK$95 billion (US$12.3 billion) in total via IPOs this year.
The New York Stock Exchange is a close third, with HK$94 billion (US$12 billion) in total IPO proceeds, followed by Toronto...
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