First half listings jump in Australia, Japan

The value of Australia and Japan IPOs soared in the first half of 2013 while the listing value across the rest of Asia Pacific declined 46% year-on-year.

Australia and Japan had striking increases in the value of public listings during the first half of 2013, according to data from Thomson Reuters.

IPOs in Australia raised $711 million, a 393 percent increase on the $144 million raised during the same period last year.  

In Japan, the value of public listings totaled $7.6 billion, up more than 400 percent from the $1.6 billion during the same period in 2012. 

By comparison, the amount of capital raised via IPOs in Asia dropped dramatically during the first half of 2013, signaling the continued depression in the region’s capital markets that has been squeezing the exit options of private equity investors. 

In Japan, the value of public listings totaled $7.6 billion, up more than 400 percent from the $1.6 billion during the same period in 2012.

Source: Thomson Reuters data

Just $10.6 billion was raised via Asia-based listings (excluding Australia and Japan) in the first half of the year, a 46.4 percent drop from the $19.8 billion raised during the same period in 2012, according to data from Thomson Reuters. 

The declining number of Asia-based IPOs was a continuation of the full year 2012 results, when IPOs almost Asia-wide decreased. Last year, in Greater China, listings raised $29.3 billion, 64 percent less than the previous year, according to a report by PricewaterhouseCoopers.

China has had a freeze on all IPOs since late 2012 and regulators have not announced an official date to resume the listing process.

In 2012, Malaysia and Japan were the only Asian countries that raised more on the stock markets than the preceding year, according to PwC figures.

Also in 2012, Hong Kong's stock market had $11.5 billion worth of IPOs, a 67 percent decrease from the previous year. 

However, Hong Kong could get two powerful private equity-backed listings this year.

CDH Investments, which owns part of Chinese pork producer Shuanghui International, the company negotiating the takeover of US counterpart Smithfields Foods, plans to list the combined businesses in Hong Kong, according to media reports. 

Alibaba Group, which received $7.6 billion worth of investment from private equity firms including Boyu Capital, CITIC Capital and CDB Capital in 2012, is also reportedly considering a Hong Kong IPO in the fourth quarter of this year.