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Companies raised USD31.38bn through IPOs in June

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Companies raised USD31.38 billion through IPOs in June, which is almost triple (294.1 per cent) the total for May 2020, according to the World Federation of Exchanges (WFE). The June figure is among the highest capital amount raised through IPO in the last 6.5 years, even while in the first-half overall, initial public offerings fell both year on year and relative to the second half of 2019. 

While listings were down in the Americas region, investment flows were up thanks to some notable IPOs. The largest IPO in the region this year was Royal Pharma (Nasdaq-US) which raised USD2.2 billion in June 2020. Other large IPOs on Nasdaq were Warner Music Group (USD1.9 billion) and ZoomInfo Technologies (USD0.9 billion).

The APAC and EMEA regions also had some notable IPOs: Hong Kong Exchanges and Clearing listed JD.com (the largest IPO this year at USD4.5 billion) and NetEase Inc (USD3.1 billion), while LSE Group saw China Pacific Insurance Group (USD2 billion) and Italian filter maker GVS (USD0.6 billion) come to market. 

Despite recording a decline in overall listings in H1 2020, the APAC region had the lion’s share of both global IPO listings (63.2 per cent) and investment flows (52.4 per cent). Shanghai Stock Exchange recorded the highest number of IPOs globally (74), followed by Hong Kong Exchanges and Clearing (59) and Shenzhen Stock Exchange (45).

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