Busiest summer for Asia IPOs on record with US$56bil in deals

Asian growth: A trader walks by the screen showing the South Korea composite stock price index in Seoul. Thanks to blockbuster deals in South Korea and India, first-time share sales in the region raised US$56bil (RM234bil) in the three months through Sept 30. — AP

HONG KONG: Asia has had its best third quarter on record for initial public offerings (IPOs), even with Hong Kong turning quiet as many firms put listing plans in the regional powerhouse on hold amid China’s sweeping regulatory clampdown.

Thanks to blockbuster deals in markets like South Korea and India, first-time share sales in the region raised US$56bil (RM234.4bil) in the three months through Sept 30, the most ever for such a period, data compiled by Bloomberg show.