A recent report by PricewaterhouseCoopers (PwC) brings good tidings for Hong Kong’s financial markets. The report forecasts that the Hong Kong stock exchange HKEX can raise up to 300 billion dollars of capital through initial public offerings (IPOs) this year. According to the PwC’s report, there will be 200 public offerings altogether, 170 of which will be on HKEX’s main board. If the predictions turn out to be true, this would go on to solidify Hong Kong’s place in the top three best performing stock markets as well as help it hold on to its IPO crown.

The projections that Hong Kong could amass 250 to 300 billion dollars of capital funding come on the heels of specific developments. The IPO landscape in Hong Kong is bolstered by the fact that there are almost 200 companies that are ready to float their shares in the market and go public in 2019. Furthermore, if the global markets continue to be stable through the year, this projected number could go well beyond $300 billion.

The report reveals that there are nine foreign companies that have already enlisted on the Hong Kong Stock Exchange so far, while a further 31 foreign companies are all set to have their initial public offerings with HKEX in the second half of 2019. The report also hints at the HKEX performing consistently and showing a positive trend which is helping it to further solidify its position as the most prominent IPO fund raising center in the region.

H1 2019 saw 84 new companies enlisting at the HKEX which led to a 35% increase in the total funds raised year on year. The main board saw improved performances as well as it recorded 78 IPOs which accounted for $69.4 billion of the total fundraising. This is a substantial jump as the number of companies increased by 42% while the funds saw an increase of 35% YoY.

The report also reveals that most IPO seeking companies belong to the consumer goods, retail, and the services industries.

The report further strengthens confidence in the HKEX by forecasting that the trend is likely to continue. The changes in the listing regulations brought on by recent government reforms have helped diversify the IPO market in Hong Kong and will continue to do so in the future as well. This will go on to create growth opportunities and further strengthen the financial markets of Hong Kong.