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Hong Kong's secondary offerings this year already near 2020 total

Investors, flush with cash, drive record share sales of $47bn

Technology stocks accounted for half of Hong Kong's secondary offerings in the first four months of 2021, followed by health care, the automobile sector and consumer products.   © Reuters

HONG KONG -- Sales of shares in Hong Kong by already-listed companies have enjoyed their best-ever start to a year as issuers tap ample global liquidity and investors' hunger for Chinese assets.

The sell-down of stakes by major shareholders, and follow-on share and convertible offerings from Jan. 1 to April 26, 2021, already reached $47 billion, nearly matching the $47.8 billion raised in all of 2020 and almost four times the deal volume during the same period last year, according to data compiled by Dealogic.

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