Global consulting firm KPMG anticipates that the total proceeds raised through initial public offerings IPOs on the Hong Kong Stock Exchange HKEX will be HK$60 billion $7.7 billion in 2024, said Louis Lau, capital markets partner at KPMG China.
This adjusted forecast almost halved a previous KPMG projection of HK$100 billion of IPO fundraising in 2024, released earlier this year.
Lau explained, at a June 18 media conference, that the divergence between two projections was mainly due to an expected outlook of multiple US Fed rate cuts and possible listings of large companies last year.
For example, Cainiao, the spun off...
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