Hong Kong is setting its sights on a $20bn listings revival this year as it aims to exploit worsening US-China tensions and the sluggish mainland Chinese equity market.
Investment banks in Hong Kong are expecting a rush of listed Chinese companies, led by battery maker CATL, to set up a secondary listing in the offshore territory. These “A to H” listings — from China “A” shares to Hong Kong — could raise as much as $20bn in new funds, bankers say.
A replenished pipeline would mark a sharp pick-up in activity for Hong Kong, which has lost some high-profile international companies such as cosmetics company L’Occitane and struggled to replace them.
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