Poor performance of new listings in Hong Kong clouds prospects for IPO recovery

According to data, the majority of companies listed in Hong Kong since the beginning of last year are currently trading for far less than their initial selling prices, leaving investors with a loss and lowering expectations for a pick-up in share sales for the rest of 2022. According to data from analytics company Dealogic, 111 of the 132 initial public offers (IPOs) and secondary listings on the city's stock exchange since the beginning of 2021 are presently trading in the negative, raising a total of $47.6 billion. The COVID-19 outbreak, the war in Ukraine, inflation, interest rate hikes in key…