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Asia Is Leading the World in IPOs. But The Real Test Comes After Companies List.
Asia Is Leading the World in IPOs. But The Real Test Comes After Companies List.
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Phụ đề (25)
0:00
We have a really big year for IPOs with SpaceX, OpenAI, Anthropic,
0:05
but analysts are pointing out that there's much more volume here in Asia.
0:09
Asia-Pacific started 2026 as the world's busiest IPO region. In the first quarter, it recorded 107
0:17
listings, raising around 20 billion US, more than any other region by both deal count and proceeds.
0:24
Hong Kong, mainland China, and India are all major listing venues.
0:29
Last year, Hong Kong saw more money raised
0:33
in IPOs on the exchange than the New York Stock Exchange and also NASDAQ.
0:37
But strong liquidity does not always mean lasting support. As of June,
0:42
about half of the companies that had listed in Hong Kong since January 2025,
0:46
saw their share prices fall over the previous 3 months.
0:49
Over the same period, Hong Kong's broader market was only slightly lower,
0:54
while the global index of newly listed companies rose by more than 10%.
0:58
I have to say that the return dispersion tends to be huge across different companies and sectors.
1:05
Mainland China's IPO system works differently. It is less about competing for global capital
1:10
and more about funding companies that fit Beijing's industrial priorities.
1:14
With the more shotgun approach that China is taking with regard to
1:19
the numerous groups that are now going public,
1:21
it's about being able to create that resiliency locally throughout the entire tech stack.
1:27
India represents a third IPO model, one powered by domestic investors.
1:32
There are two very real things happening in parallel.
1:35
Indeed, there has been some speculative element, some day trading element,
1:39
but at the same time, there is a very long-term investor class
1:44
that seems to be believing now in the equity story in India.
1:48
As the next wave of mega IPOs approaches, one lesson stands out.
1:52
Raising billions is only the first test. The harder one begins after the bell.
