HKEX chief executive says positive sentiment returns to IPO market in second half of 2022

The Hong Kong Exchanges and Clearing Limited (HKEX) remained one of the world's premier capital raising venues throughout 2022, with positive sentiment returning to the IPO market in the second half, according to the HKEX Chief Executive Officer Nicolas Aguzin.

Aguzin said in the HKEX's 2022 final results released Thursday that a total of 90 new companies from a range of sectors and geographies successfully joined the Hong Kong markets in 2022, raising 104.6 billion Hong Kong dollars (about 13.33 billion U.S. dollars), 65 percent of which was for the new economy sector, putting Hong Kong in the top four markets globally in 2022.

According to the HKEX, it recorded 18,456 million Hong Kong dollars in revenue and other income for 2022, 12 percent lower than the record in 2021.

Core business revenue was down 9 percent against 2021, reflecting reduced trading and clearing fees, lower depository fees and listing fees, which was partly offset by the increase in net investment income from margin funds and higher trading fees from the derivatives market, it showed.

Northbound Bond Connect average daily trading reached a record high of 32.2 billion RMB (about 4.67 billion U.S. dollars), up 21 percent compared with 2021.

Laura Cha Shih May-lung, chairperson of the HKEX, said that 2022 was a good year of strategic progress for the HKEX, and a significant number of important strategic initiatives were accomplished or announced during the year, which have positioned the HKEX well to continue to lead and shape the development of the region's global capital markets. (1 U.S. dollar equals 7.84 HK dollars)