Hong Kong‘s new listings volume plunged 90% to a nine-year low this year, data showed, as China‘s sharp economic slowdown and its regulatory drive cast a long shadow over the city’s prospects as a destination for initial public offerings (IPOs).
The drying up of share listings in Hong Kong bodes ill for investment banks, who make about a third of their revenue in the region from equity capital market deals, and for the Chinese-ruled territory’s status as a global financial hub.
