Shanghai May Become World's No. 1 IPO Market by Next Month, Deloitte Predicts
Xu Wei
DATE:  Sep 24 2020
/ SOURCE:  Yicai
Shanghai May Become World's No. 1 IPO Market by Next Month, Deloitte Predicts Shanghai May Become World's No. 1 IPO Market by Next Month, Deloitte Predicts

(Yicai Global) Sept. 24 -- The Shanghai Stock Exchange should rank No. 1 globally both in the number of initial public offerings and the scale of raised funds in the first three quarters, according to Deloitte. 

Some 179 firms should raise CNY274.7 billion (USD40.3 billion) by going public on the eastern megacity's bourse during the first nine months of this year, the Paper reported, citing a report by the professional services provider.

The Shenzhen Stock Exchange should have 114 new stocks and their issuers are likely to raise CNY80.3 billion (USD11.8 billion). That would give the bourse a global top five ranking in terms of financing.

The two mainland bourses' combined number of issuers, as well as the proceeds of their IPOs should rise more than twofold from a year ago, the report added.

After the registration-based system reform, this year's IPO financing on the mainland may set a new record due to the increase of IPO-hopefuls on Shanghai's Star Market and Shenzhen's ChiNext Board, Hu Ke, partner at Deloitte China, wrote in the report.

The Hong Kong Stock Exchange is expected to have 99 new stocks over the three quarters, rising by 1 percent. The companies should raise HKD213.8 billion (USD27.6 billion), up 67 percent. This would mean that bourse is the world's third-most attractive IPO destination.

Editor: Emmi Laine 

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Keywords:   Shanghai Stock Exchange,IPO,Shanghai's Star Market,Shenzhen's ChiNext Board