MONEY raised from global cross-border initial public offerings (IPOs) fell 24 per cent to US$20.6 billion in the first half of this year compared to the same period last year.
But the Asia-Pacific was a bright spot, raising 75 per cent more capital in H1 2015 than in H1 2014. Some US$15.6 billion were raised by 23 cross-border IPOs in the region in the first half of this year.
This was mainly due to China companies listing in Hong Kong, in particular two China brokers, Huatai Securities and GF Securities, which raised US$9.1 billion.
The statistics were compiled in a report by law firm Baker & McKenzie.
Ashok Lalwani, chair of the firm's Asia-Pacific capital markets practice group, said: "Looking ahead, we see some near-term volatility. But we are optimistic for the long term, as exchanges in the region seek to promote stronger market environments.
"This should create stronger hubs for investment, particularly for emerging Chinese, Southeast Asian and Indian companies."