In the first quarter of the year, the number of public listings in greater China fell, but still performed better than other global markets.
IPO activity in Hong Kong was slower than in mainland China, but Greater China had a 28% drop in the number of initial public offerings.
According to a report, Hong Kong saw slower IPO activity due to recent market volatility, a severe outbreak of Omicron cases, and a bigger fall in the local stock market indices.
There were just 12 IPO deals in Hong Kong, a drop of over 60% compared to a year ago.
Chinese tech shares have plummeted over the past year, hit by China's regulatory crackdown and ongoing tensions with the U.S.
The firm said that proceeds rose due to hosting three of the seven mega IPOs in Q1 2022.
The number of IPOs fell, but the proceeds from the overall China listings rose by 2% compared to a year ago.
The tumble in listing activity in China and Hong Kong followed a similar trend in the rest of Asia-Pacific, but not as steeply. The proceeds of IPOs in Asia-Pacific increased by 18%.
The decline in Asia-Pacific was less severe than in the rest of the world, with a fall of 37% in the first quarter compared to a year ago. In the first three months of this year, global IPOs raised less money than in the same period last year.
The tumble worldwide was a reversal from the record highs of the previous year.
The sudden reversal can be attributed to a number of issues. They include stock market volatility and price correction in over-valued stocks from recent IPOs.
Growing concerns about rising commodity and energy prices, the impact of inflation and potential interest rate hikes, as well as the Corind-19 risk are all attributed to the drop.
The decline in global IPO activity was mirrored by the fall in SPAC IPOs.
Mega listings, which had proceeds of more than $1 billion, fell. There were a number of postponed IPO launches due to market uncertainty and instability.
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