New | Beijing's curb on new listings seen as boost to Hong Kong's IPO market
City's listings market may see year-end surge to reach HK$250 billion for the year after Beijing imposes control on share sales amid volatility
Hong Kong's initial public offering market is set for another year-end rush as Beijing reins in mainland share sales.
The China Securities and Regulatory Commission's move to curb new initial public offerings, announced on Friday, is the latest in a slew of initiatives by the authorities to stabilise the volatile mainland markets, which have dropped about 30 per cent from their June 12 peaks.
The mainland was the world's biggest IPO market in 2010, but it halted new listings for 14 months between October 2012 and December 2013 amid a crackdown on accounting and governance fraud and insider trading.
The CSRC reopened the market in January last year, six months before the markets began a bull run that ended last month.
, a financial news magazine on the mainland, reported on Saturday the State Council had decided to suspend all public offerings on the mainland, but that report has not been confirmed by official news sources.
Analysts said Hong Kong, as a mature, market-driven international fundraising centre, was likely to benefit from a slowdown or freeze in mainland offerings.
