Asian share offerings hit pre-recession highs

THE TOTAL level of cash raised through initial public offerings (IPOs) in Asia so far this year has hit its highest level since before the recession.

Companies from the region have generated a total of $20.8bn (£12.9bn) from stock market offerings since January, according to data provider Dealogic.

The figure comes after a boom year for Asia-Pacific IPOs – which had at this point last year notched up $18.2bn – and despite market volatility in the Middle East.

In 2009, only $314m had been raised in Asia-Pacific stock offerings by this point in the year.

The $5.5bn offering by Hong Kong port operator Hutchison Ports Holdings Trust on the Singapore Stock Exchange has driven up the figure, in a strong year to date for Asian firms.

Several large flotations of Chinese firms also helped to boost the figure.