More Chinese unicorns prefer to raise capital in Hong Kong than any other market, survey shows

Four out of every 10 so-called unicorns identified Hong Kong as the preferred market for an IPO, according to a PricewaterhouseCooper survey of 101 of these companies, each with at least US$1 billion in valuation. US stock markets come in second at 25 per cent, followed by China’s yuan-denominated A-share market in third place with 23 per cent, according to the survey of C-suite executives including founders and chairmen. The survey found that 64 per cent of the companies have a listing plan in the next two years and 21 per cent called it an urgent task. About 75 per cent of the respondents have been running business for less than eight years while the remaining ones have been in operation within four years. In the survey, unicorn companies listed talents drainage and disruption on capital chain as the two biggest potential challenges or crisis they are concerned about.

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