《新股消息》羅兵鹹永道料局勢明朗後TMT公司資本市場表現將復甦
羅兵鹹永道表示,去年下半年國內資本市場爲內地內地科技、媒體及通訊行業(TMT)企業的主要上市選擇地,有39%選擇在科創板上市,28%選擇在創業板上市,15%選擇在北交所掛牌上市。而於香港及海外上市內地TMT公司期內共有8家,當中包括小鵬汽車(09868.HK)、理想汽車(02015.HK)及微博(09898.HK),宗數佔11%,集資約372億元人民幣,佔去年下半年內地TMT公司總集資額的25%。
羅兵鹹永道全球科技、媒體及通訊行業主管合夥人周偉然表示,美國去年實施外國公司問責法案,目前中美兩國監管機構對於中概股監管方面的協商和協調情況尚不明朗,令去年下半年起內地TMT公司在海外及香港上市的勢頭有所放緩。同時近期俄烏局勢緊張,亦阻礙企業上市進程,但他認爲,國家政策全面推動數字經濟、5G及元宇宙等科技發展,相信當監管環境及局勢明朗化後,市場表現將有所恢復,不影響TMT公司在資本市場的發展。
該行又指,港交所(00388.HK)今年起正式引入SPAC上市機制,將爲香港資本市場注入新活力,亦爲新經濟及創新類企業有來更多機會,預期未來會有不少內地科技公司成爲香港SPAC的併購目標。
對於港交所與證監會正研究允許未盈利的創科公司上市,周偉然表示非常歡迎,認同科技公司在發展初期需要投入大量資金,在盈利規模上的確較難符合現行上市規則。但對於新規會否吸引更多內地TMT初創改到香港上市,他預期上市地點取決於個別公司考量,要計及投資者基礎、業務範疇及公司架構等因素。
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