hkex

Mainland Chinese firms Guming Holdings and the Mixue Group could be the first of many to seek IPOs in the SAR this year, as PwC predicts $12.8bn of deals in 2024, and KPMG sees a return to the top five global rankings.

The current co-chief operating officer will become the first woman to take on the role after Nicolas Aguzin decided to not seek reappointment at the end of his current contract.

The Hong Kong bourse aims to boost its on-the-ground global reach through recent expansions to London and New York.

From Indonesia’s resource-rich, onshore EV supply chain, to Hong Kong’s suite of sophisticated primary market products, experts assess the opportunity on offer to both regions’ capital markets, following formal signature of a strategic partnership between HKEX and IDX last week.

The move reduces exchange-rate risk and could encourage the accumulation of renminbi funds overseas over time, observers believe.

London will mark the location of HKEX’s second office outside of Asia, after New York. The announcement follows plans to open a European office, shared last year.

Former executives from the HKMA and SFC will replace outgoing HKEX board members, from April.

The expansion will boost inflows to Hong Kong and mainland China stock markets, but the real game changer will be when mainland investors can invest in secondary-listed Chinese companies in Hong Kong.

The bourse saw a fall of 68% in total IPO proceeds last year compared to 2021, but capital markets have shown signs of recovery.