Bloomberg reports slowdown in HK's IPO boom

Bloomberg reported that at least 78 companies have postponed, withdrawn or allowed their listing plans to lapse in Hong Kong since the start of this year. That reportedly marks a slowdown in Hong Kong's deal boom.

While Hong Kong saw more than 110 new IPO listings in the first three quarters, raising over 380 billion Hong Kong dollars and setting a record for the same period, some major IPO candidates have also trimmed the size of their fundraising plans.

The pullbacks are reportedly linked to weaker stock market conditions as well as regulatory efforts to crack down on fraudulent practices in IPO applications.