China's tech crackdown cooling Hong Kong IPO market

Capital raised on the Hong Kong stock exchange this year is only half of its levels last year, impacting the city's position as a top fund-raising hub.
Capital raised on the Hong Kong stock exchange this year is only half of its levels last year, impacting the city's position as a top fund-raising hub.PHOTO: AFP

HONG KONG (BLOOMBERG) - New Hong Kong listings are tracking at their slowest pace since the aftermath of the global financial crisis, as weaker markets and China's clampdown on its biggest tech firms chill sentiment.

Just seven companies have gone public in the second quarter so far - on track for the fewest since 2009, according to data compiled by Bloomberg. The muted second-quarter activity stands in sharp contrast to the rush to go public seen last year or even at the start of 2021.

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