IPO markets boom as China deals slow

Growth areas: A man watches share prices on a digital broadcast outside the Bombay Stock Exchange. Investors are boosting exposure to markets outside China, with some buying into IPOs from countries like India and Indonesia for the first time. — AFP

NEW YORK: China’s crackdown on technology companies is prompting global investors to look for new opportunities across Asia, contributing to a record jump in initial public offerings (IPOs) from India to South Korea that shows few signs of slowing.

Tech companies from those two countries and South-East Asia have raised US$8bil (RM33.56bil) from first-time share sales this year, already blowing past the previous annual peak.