IPO deals in China and Hong Kong slump as omicron cases jump

The number of public listings in greater China fell significantly in the first quarter of the year, but still performed better than other global markets, data from consultancy EY showed. Greater China overall had a 28% drop in the number of initial public offerings, although IPO activity in Hong Kong was slower compared to mainland China. "Hong Kong saw notably slower IPO activity due to recent market volatility, a severe outbreak of Omicron cases and a relatively bigger fall in the local stock market indices," said EY in a report. Hong Kong had just 12 IPO deals, a drop of…