Hong Kong IPO market to stabilise in 2024: PwC

Hong Kong is predicted to yield over $100b of total funds raised in 2024.

IPO market is predicted to gradually stabilise in 2024 due to reductions in bearish factors and substantial demand for corporate development financing, according to PwC.

Capital from Europe, the US, and the Middle East is expected to return to Asia following the end of the rate hike cycle and the possible beginning of interest rate reduction in 2Q24. This will increase market liquidity and improve valuations.

PwC expects over $100b in total funds raised for the full year of 2024 and forecasts that 80 companies will be listed in Hong Kong in 2024.

In addition, the firm also predicts Hong Kong's return to the top three global financing markets in 2024.

The prediction comes after consideration of existing efforts in reforms and mechanisms to promote and diversify the IPO market.