Hong Kong is at risk of losing its ranks as the word's biggest initial public offering market amid declining appetite for IPOs, reports the South China Morning Post.
Citing data from the Hong Kong Exchanges and Clearing Limited, the newspaper says mainland-related companies raised nearly HK$71.37 billion (US$9.15 billion) through listings on the main and Growth Enterprise Market boards in the first 10 months of this year. This was lower than the same period last year, but HKEx did not supply year-earlier figures.
"Although the Hong Kong Exchanges and Clearing still came first in terms of the total amount of funds raised through IPOs in the first half of this year, we may slide to second place at the end of this year," the Post quotes HKEx chief executive Charles Li Xiaojia as saying.
The HKEx chief executive predicts a difficult year in 2012 amid uncertainties in the global market.
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