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Article: CHINESE MAINLAND IPOs BOOST HONG KONG MARKET.
- Article from:
- AsiaPulse News
- Article date:
- November 16, 2006
CopyrightCOPYRIGHT 2006 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BEIJING, Nov 16 Asia Pulse - Two massive Chinese mainland initial public offerings (IPOs) have helped Hong Kong overtake New York this year as the world's second-largest IPO market, according to a top financial official.
Capital raised from IPOs in Hong Kong in the first ten months of this year totalled HK$258 billion (US$33 billion), a leap of 76 per cent year-on-year, said Ronald Arculli, chairman of Hong Kong Exchanges and Clearing Ltd (HKEx).
At the same time, overall capital raised in the equity market through all fundraising methods including IPOs surged 44 per cent to around HK$393 billion.
Bank of China (BOC) (SSX:601988, SEHK:3988) and ...