Huge number of Chinese tech unicorns likely to IPO in Hong Kong in 2018, says JPMorgan Asia-Pacific chief

A huge number of Chinese technology unicorns are likely to launch initial public offerings in Hong Kong in the next 12 to 24 months, which could significantly boost liquidity in its capital market, according to Nicolas Aguzin, chairman and chief executive for Asia-Pacific at JPMorgan. A number of Chinese technology companies have already started talking to investment banks and potential investors about the possibility of going public. If successful, these rapidly expanding Chinese technology stars could bring hundreds of billions worth of new shares into the market. The Hurun Research Institute recently released a list of start-ups in China, with 151 companies reaching unicorn status by the end of the first quarter. Their combined valuations exceeded 4 trillion yuan (US$630 billion). Half of these unicorns were incubated or backed by industry titans such as Alibaba and Tencent Holdings.

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