ONGOING geopolitical uncertainties dampened global IPO activity in the first three months of this year, though a rebound is expected in the next quarter once the"fog of uncertainty" clears, according to a quarterly IPO trends report by Ernst & Young .
Nonetheless, technology, healthcare and industrials sectors were the most prolific producers of IPOs globally year to date in 2019, accounting for 101, or 51 per cent of the global IPOs by deal numbers, and raising US$5.4 billion, representing 42 per cent of global proceeds. By proceeds, technology came in as the strongest sector with US$2.1 billion raised, or 16 per cent of global proceeds.
"Mainland China saw 30 IPOs raising US$3.7 billion in Q1 2019. Although these numbers are lower when compared with Q1 2018, they are notably up from Q4 2018, suggesting the mainland China IPO market may be showing signs of a recovery," EY noted. Malaysia also saw seven IPOs representing a 17 per cent increase in deal number, with proceeds raised increasing 12 per cent to US$0.51 billion from a year earlier.
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