For all the shortcomings and disappointments of 2020, one major bright spot for Hong Kong in the year gone by has been its capital markets. According to a report from KPMG, fundraising hit a 10-year high on Hong Kong’s stock exchange in 2020, pushing the city to second place behind New York in the global ranking of destinations for initial public offerings (IPOs). The report found that 140 companies raised about US$50 billion in Hong Kong last year, just shy of the US$52.3 billion raised by New York’s Nasdaq.
And the good times are set to continue. A string of mega IPOs by Chinese technology companies, each likely to raise at least US$1 billion, are in the pipeline. KPMG predicts that between 130 and 150 IPOs could take place in Hong Kong next year, raising up to US$52 billion. For this reason, this month’s cover feature profiling Bonnie Chan, Head of Listing at HKEx, could not have been timelier. In it, Ms. Chan talks about her distinguished career so far, what is on the horizon for HKEx, and what Hong Kong’s capital markets lawyers can look forward to in the coming year.
Beyond that, this month’s issue also contains several articles that are both enlightening and thought-provoking. One deals with new ESG reporting requirements for Hong Kong-listed companies, and how they relate to modern slavery. Another discusses anti-harassment injunctions, while a third provides an overview of the Law Reform Commission’s Consultation Paper on Sentencing and Related Matters in the Review of Sexual Offences. Additionally, we have an informative feature about new solicitor business models.
A new year brings new hope and new opportunities. On behalf of the editorial team at Hong Kong Lawyer, I wish you all the best for 2021, and hope we can make it one of the best years yet.
Acting Editor, Hong Kong Lawyer