Hong Kong has been the worst place to invest in Chinese initial public offerings this year, with deals in the city recording lower average returns and a higher chance of losses than those in Shanghai and New York.
Of the 35 mainland companies to go public in Hong Kong since January, only 18 have registered share price gains since trading started, according to Dealogic. On average, Chinese IPOs in the territory have returned only 11 per cent.
However, Chinese listings completed in the US or in domestic markets have fared much better. Of the 12 US deals – most from the tech sector – only one has failed to rise, while the average share price of new Chinese listings in New York is up a third.
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