Hong Kong market statistics for 2010

HKEx has just released a set of interesting statistics for the last 12 months. As expected, these highlight a number of new records in the securities markets achieved in 2010, with total equity funds raised up 22.9% y-o-y to US$101.2 billion. IPO funds raised were up 23.4% compared with the previous record in 2006, and reached US$52.8 billion.

Among other notable figures, the number of listed companies reached 1,237 on the Main Board (up 8% y-o-y), with 98 new companies listing in 2010. The number of REITs listed in Hong Kong, however, remains low compared with Singapore, at only eight, one more than in 2009.

2010 was most notable for IPOs. Follow-on fund raisings were down 6% this year, still reaching a very respectable US$46.9 billion. In terms of IPO equity funds raised, Hong Kong was the largest market in the world this year, followed by Shenzhen (US$40 billion), Shanghai (US$28 billion), NYSE Euronext in the US (US$28 billion) and the London Stock Exchange (US$18 billion).

In terms of total equity funds raised, HKEx also provided separately slightly different (and apparently also slightly more dated) statistics from the World Federation of Exchanges (WFE). According to these numbers, NYSE Euronext in the US took the crown with US$179 billion, followed by the BM&F BOVESPA in Brazil with US$98 billion (although much of that amount can be attributed to the Brazilian government taking a stake in Petrobras – using HKEx’s latest numbers it should in fact rank second rather than third with US$87 million as indicated by the WFE). Shanghai ranked fourth at US$76 billion, followed by the LSE at US$57 billion.

The ten largest IPOs in Hong Kong in 2010 were as follows:

1.   AIA (US$20.4 billion)
2.   Agricultural Bank of China (H) (US$12.0 billion)
3.   United Co. Rusal (US$2.2 billion)
4.   China Rongsheng Heavy Ind. (US$1.8 billion)
5.   Xinjiang Goldwind (H) (US$1.0 billion)
6.   Sihuan Pharmaceutical (US$847 million)
7.   L’Occitane (US$783 million)
8.   Mongolian Mining (US$745 million)
9.   Springland International (US$546 million)
10.  Winsway Coking Coal (US$509 million)

The ten largest IPOs in Hong Kong since 1986 were as follows:

1.   AIA (US$20.4 billion)
2.   ICBC (H) (US$16.0 billion)
3.   Agricultural Bank of China (H) (US$12.0 billion)
4.   Bank of China (H) (US$11.1 billion)
5.   China Construction Bank (H) (US$9.18 billion)
6.   China Unicom (US$5.6 billion)
7.   China CITIC Bank (H) (US$4.2 billion)
8.   China Mobile (US$4.2 billion)
9.   China Minsheng Bank (H) (US$4.0 billion)
10. China Pacific Insurance (H) (US$3.6 billion)

(H) refers to ‘H’ shares of enterprises incorporated in the Mainland of China.