Asia-Pacific leads as global IPO market jumps

by Steve Randall29 Sep 2017
Asia-Pacific leads as global IPO market jumps
Three months before the end of 2017 and the global IPO market has already exceeded 2016’s full year total.

From January to September there were 1,156 IPOs raising U$26.9 billion in capital.  That’s a 59% increase by volume and 55% by proceeds compared to last year.

The figures from EY show that Asia-Pacific saw an increase of 72% with 690 IPOs; while capital increased 28% to U$53.9 billion.

“Asia-Pacific tightened its grip on the global IPO market in the third quarter and the outlook for the fourth quarter, historically the year’s busiest for new listings, is even more upbeat,” said Ringo Choi, EY Asia-Pacific IPO Leader.

China accounted for most of the IPOs in Asia-Pacific in the first seven months of the year (353), followed by Hong Kong (105), Australia (61), Japan (57) and South Korea (42).

“In the longer term, solid economic fundamentals, plus government action to support markets and economies in countries like China, Singapore, Australia and Japan, should keep listings strong. However, tensions in the Korean Peninsula could create bumps in the IPO road ahead,” said Choi.

Hong Kong partner returns to RPC London
Having successfully extended RPC’s presence in the Asian disputes market, banking and finance dispute specialist Jonathan Cary has returned to the firm’s London office.

Cary spent three years in Hong Kong acting for clients including banks, corporates, funds and individuals.

He has been with RPC since 2013 having joined from Shearman and Sterling, and previously with legacy firm Herbert Smith in London and Hong Kong.

Law Society warns of ‘Wild West’ legal marketplace
Consumers would be put at risk and trust in the legal profession would be undermined if changes to the rules governing solicitors in England & Wales go ahead.

That’s according to the Law Society of England & Wales in response to proposals from the Solicitors Regulation Authority to make changes to its handbook.

"We are gravely concerned the SRA is ploughing ahead with proposals that would see solicitors subject to entirely different regulations depending on where they practise,” said Law Society president Joe Egan.

The proposals would allow solicitors to work in unregulated firms, to operate as freelance without a firm or sole proprietor status, and for newly-qualified lawyers to start their own firms immediately.

"The expertise and regulatory protection offered by a solicitor today means clients can be confident that their issue will be resolved as satisfactorily and speedily as possible. Public trust in solicitors provides stability and certainty for businesses and consumers - let's not exchange that for a new wild west," concluded Egan.