IPO fund-raising in Hong Kong fell by 56 per cent in 2023 to HK$46 billion, the least since the dot.com crash of 2000.
IPO fundraising in Hong Kong fell by 56 per cent last year to HK$46 billion, the least since the dotcom crash of 2000.- When Mr Eric Li lost his job after his family office employer relocated away from Hong Kong, he knew he would be facing a tough job market. He had no idea how hard it would be.
Their efforts helped to generate more than US$6 trillion in market value of mainland Chinese companies listed in Hong Kong and the United States. Goldman Sachs Group, JPMorgan Chase & Co and Citigroup have made several rounds of job reductions in Asia over the past 18 months. With her HK$20,000 a month lease coming up, she decided to move back to the mainland to live with her parents and pursue a career outside of traditional finance.
The city’s post-Covid-19 recovery undershot expectations in 2023, and Bloomberg Economics estimates that GDP growth will slow to 1.8 per cent in 2024 from 3.2 per cent in 2023.
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