IPOs in Asia

Shanghai’s STAR Market was the focus of Asia ECM in July

Although a traditional real estate IPO topped the deal list by value in July, technology companies on the new STAR Market raised the most amount of money, according to data from Dealogic.

Shanghai’s Sci-Tech Innovation Board (STAR Market) is the winner among Asian stock exchanges with six out of the ten biggest IPO deals in July.

The debut of the STAR Market has been a major breakthrough for Chinese exchanges, as it allows a registration-based IPO mechanism for companies to list.

Although the Prime US REIT on the Singapore Exchange topped the IPO list with a value of $813 million, that deal still can’t distract people’s attention from the upsurge in most STAR Market stocks.

The charts below are compiled using data from Dealogic as of July 31.

Top 10 IPOs across Asia in terms of deal size in July

The Hong Kong Stock Exchange did not have a strong month. The Hang Seng Index slipped 3.8% to 27,777 by the end of July from 28,875 at the end of June.

Among the ten biggest Asia IPOs in July, three are listed on the Hong Kong Stock Exchange. But the stock performances of Jingshang Bank, Zhongliang Holdings and CIMC Vehicles were far from satisfactory. CIMC’s share price, for example, has fallen by 3.7% since its debut on July 10.

Share price performance since debut in descending deal size

As 25 companies listed on the STAR Market in July, no surprise that technology was the top sector for Asian IPOs in July. That exchange is mosly made up of technology companies. Healthcare ranked second, with double the deal value year-on-year.

Sector Comparison

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