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Hong Kong based brokerage Grandbay Capital expects IPO market to pick up in 2023

Grandbay Capital expect investors to have more IPO options to choose from this year, after a lean 2022.

CENTRAL, HONG KONG, January 29, 2023 / -- Director of Institutional Trading at Hong Kong based Grandbay Capital, Andrew Gillard, told Proactive Investors in January that it had been a tough year for IPOs in 2022.

“There’s no doubt it’s not been the best year for IPOs, but we’re expecting this year to be better,” he said. “Looking ahead to 2023, there is a strong IPO pipeline on the horizon, “Even though IPO activity will likely remain stable through the first quarter, more favorable conditions seem to be set in place for global IPO activity to regain greater momentum by the second half of the year.”

Gillard cautions, however, that this turnaround hinges on a number of macroeconomic conditions, including lower inflation, stabilized interest rates and eased geopolitical tensions.

Those macroeconomic conditions led to a very sparse IPO market throughout 2022, according to Gillard. “They meant the market became very volatile, and when it is volatile it is very difficult to execute an IPO.''

“Throughout 2022, global IPO activity was impacted by increased market volatility and other unfavorable market conditions, along with the dismal performance of many IPOs listed since 2021,” “Amid an environment defined by higher inflation and rising interest rates, investors have spurned new public companies and turned to less risky asset classes.” Gillard added.

While Gillard stresses that it will likely be a modest start to the 2023 calendar year for IPOs, there is plenty coming for investors to be excited about.

“Many prospective IPO companies are still going to take the wait-and-see approach, holding out for the right window,” Gillard said.

Andrew Gillard
Grandbay Capital Ltd.
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