Size does matter: Hong Kong’s smallest stockbrokers are going bust in record numbers as they miss out on IPO bonanza squib

A record number of Hong Kong’s smallest stockbrokers may shut this year, as their limited funding and dowdy e-broking websites put them at a disadvantage against bigger firms, causing them to miss out on the bonanza in the world’s favourite destination for initial public offerings (IPOs). As many as 31 brokers have shuttered this year, and the toll may rise to 40 closures by the end of 2020, according to Gordon Tsui, chairman of the Hong Kong Securities Association, the industry guild. That…
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