Hong Kong losing sheen as foreign firms shun listings

Lower valuations, slowing growth in Chinese mainland proving deterrents for overseas companies' float plans, reports Bloomberg.

As Hong Kong wraps up its best year for initial public offerings since 2010, the city's bourse is notching up a less flattering milestone: listings of overseas companies have almost evaporated.

Only one non-Chinese company went public in Hong Kong, the worst annual tally in five years, according to data compiled by Bloomberg. The value of foreign IPOs in the city has fallen every year since 2011, when companies like Prada SpA made up about a fifth of funds raised.