Nasdaq steals HK's crown for most IPOs in 2018: report

Singapore

THE Nasdaq has toppled Hong Kong to clinch the highest number of initial public offerings (IPOs) so far this year, with 190 IPOs pipping Hong Kong's 180, according to a report by Baker McKenzie.

Driving Nasdaq's popularity as an IPO destination is a jump in cross-border deals from 28 in 2017 to 44 in 2018, the law firm reported. The bourse also welcomed several transfers from the New York Stock Exchange (NYSE) during the year, with issuers citing lower costs as the biggest reason to leave the NYSE.