Asian companies raised more than $83 billion in July through initial public offerings, share placements and block trades, a record monthly total, according to Bloomberg data.
South Korean chip giant SK Hynix accounted for the largest single deal, raising $26.5 billion through its US listing. August has kept up the pace: India sold a $3.3 billion stake in state-controlled insurer LIC.
Cathy Zhang, head of Asia Pacific ECM at Morgan Stanley, said the bank remains constructive on capital markets for the second half of the year, citing strength in Hong Kong, mainland China and Taiwan. She expects multiple deals above $1 billion to launch in coming months, largely in consumer internet, industrial technology and AI-related sectors.
(Bloomberg)
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