安永:今年首三季全球錄968宗IPO 集資額降32%至1,012億美元
安永表示,今年首三季度,全球IPO市場共錄得968宗交易,按年下降5%,集資額降32%至1,012億美元。當中,新興市場IPO宗數及集資額分別佔全球IPO的77%及75%,除了較興旺的印尼、馬來西亞和印度市場外,土耳其及羅馬尼亞亦是新興的熱門IPO地點。大中華區IPO宗數繼續領先全球,上海及深圳交易所集資額位列全球首兩名,分別達89.28億美元及65.36億美元。
今年首九個月,亞太區IPO市況好壞參半,儘管佔全球IPO交易份額約60%,但其上市宗數和集資額分別按年下降8%及41%。各地政府均致力於刺激經濟增長,以及通過下調印花稅等措施帶動IPO活動。另外,由於主要市場疲弱,亞太區過去兩年IPO宗數較少。基於大型上市申請,整體市場情緒樂觀,並期望下一季度或2024年初期IPO交易溫和上升。
安永預料準備於中國內地上市的企業,將接受更嚴謹的審查以及更長的註冊程序,主要由於監管部門有意通過控制IPO的節奏以平衡投融資市場。在調控措施下,緊隨國策及行業政策的企業仍有機會於積極支持創新中小企的北京證券交易所進行IPO。同時亦有跡象顯示部分有意申請A股IPO的企業將上市目的地轉向海外和香港市場。中國內地的交易所IPO宗數及集資額分別下跌11%及40%。
安永全球上市服務主管陳杰表示,面對流動性收緊及資本成本上升,投資者傾向基本面強勁且有明確盈利路徑的企業,準備IPO的企業須展現其財務穩健性及創造價值的潛力來應對。隨著估值差距收窄,投資者正在檢視新一批新上市企業的上市後表現,如整體趨勢向好,這將恢復投資者的市場信心。
安永大中華區上市服務主管合夥人何兆烽指,儘管東盟和日本的IPO市場仍然活躍,但由於包括大中華區和澳紐在內的主要市場疲軟,過去兩年整個亞太地區的IPO活動放緩。隨著中國內地和香港市場的復甦,預計地區整體將出現反彈。香港的上市申請中有一大型分拆項目目標籌集最少10億美元,亦向市場釋放正面信號。
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