The number of initial public offerings (IPO) would rise modestly this year, as the capital market improves in the second half of the year, despite current concerns over global inflation and monetary tightening, Deloitte & Touche Taiwan said on Tuesday.
The number of IPOs on the Taiwan Stock Exchange (TWSE) and Taipei Exchange (TPEX) might reach 50 this year, from 47 last year, led by semiconductor, renewable energy and biotechnology firms, Deloitte & Touche Taiwan CEO Jason Ke (柯志賢) said.
Concerns over inflation, monetary tightening, geopolitical conflicts and carbon emission reductions would remain after playing havoc on financial markets around the world last year, Ke said.
Photo: Tien Yu-hua, Taipei Times
The consultancy’s audit and assurance business leader Titan Lee (李東峰) said that ongoing inventory corrections would end next quarter, paving the way for a recovery in global demand for goods and services.
The US Federal Reserve is likely to slow its pace of monetary tightening or hold steady in coming policy meetings, as inflation-related readings show signs of mitigation, Lee said.
The recent easing of COVID-19 restriction in China would lend support to exports in Taiwan, despite spiking virus infections for the time being, Lee said, adding that Beijing would introduce measures to stimulate the economy after the pandemic stabilizes.
The emerging stock board last year saw 63 new participants intent on listing on the TWSE or TPEX, Lee said.
Stock exchange officials and consultancy firms have said they would resume in-person road shows this year to help boost local capital markets.
Market volatility has not dampened IPO interest on the part of fintech companies seeking to grow and roll out innovative solutions for clients, Deloitte & Touche Taiwan start-up service group leader Connie Chen (陳薔旬) said.
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