The corporate flag for Hong Kong Exchanges & Clearing Ltd. (HKEX), right, and the Chinese national flag, left, fly outside the Exchange Square complex in Hong Kong, on Sept 16, 2019. (PAUL YEUNG / BLOOMBERG)

HONG KONG - In the first half of 2021, Hong Kong raised HK$209.7 billion (US$27 billion) from its IPO market, a 138 percent jump from a year ago and third globally in IPO proceeds, according to Deloitte.

The Nasdaq Stock Market was the top IPO market with HK$356.6 billion raised, and the New York Stock Exchange came in second with HK$219.1 billion raised

“Affected by secondary listings and new listings of shares with different weighted voting rights in Hong Kong, IPO proceeds more than doubled by year in the first half of 2021,” said Kinson Lau, Southern China regional leader at Deloitte China.

The Nasdaq Stock Market was the top IPO market with HK$356.6 billion raised, and the New York Stock Exchange came in second with HK$219.1 billion raised.

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“The Hong Kong Stock Exchange may have difficulty being ranked as the top IPO listing venue by the end of this year, but it will probably remain in the top three in terms of IPO fundraising proceeds,” said Edward Au, Deloitte China’s Southern Region managing partner.

Kuaishou’s IPO topped HK$48.3 billion, which was among the five largest in Hong Kong, followed by JD Logistics with HK$24.6 billion and Baidu with HK$23.9 billion.

Meanwhile, new share listings in the Chinese mainland increased 109 percent in amount and 51 percent in terms of IPO proceeds in the first half of the year. Deloitte estimated that 244 new companies were listed on the Chinese mainland in a bid to raise 207.9 billion yuan (US$32.3 billion).

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