(Yicai Global) Sept. 27 -- Deloitte Touche Tohmatsu Ltd. estimates that Hong Kong has remained the largest IPO market in the world in the first to third quarters of 2016, despite a drop in the overall IPO volume over 2015.
As of Sept. 30, 2016, 71 new stocks will have been listed in Hong Kong, down one percentage point annually, and the total amount of IPO financing will hit USD17.5 billion (HKD136 billion), down 13 annual percentage points. Compared with other major stock exchanges, however, Hong Kong will continue to top the list of the world's largest IPO markets, factoring in the financing proceeds to be raised through the listing of seven Chinese financial institutions. New York will have a much lower ranking, though still above Shanghai and Copenhagen. Copenhagen has the smallest number of new stocks, but still outranks NASDAQ due to two super-size share offerings.
The number of new share listings in Shanghai and Shenzhen decreased over 2015. By the end of the third quarter of 2016, a total of 120 new stocks will have been listed in Shanghai and Shenzhen, down 38 percentage points annually, and the volume of financing will fall 49 percent yearly to CNY74.9 billion.
Deloitte reiterates its IPO forecast for Hong Kong: HKD200 billion will be raised through 115 IPOs in all of 2016.