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Five-Year High Reported In Offshore IPO Activity

by Mike Godfrey, Lowtax.net, Washington
20 January, 2016

Over 200 offshore initial public offerings (IPOs) were announced or completed in 2015, the highest figure seen in the last five years, with more than three-quarters of these coming from businesses in the Cayman Islands.

According to data compiled by Appleby, 202 IPOs and planned IPOs were completed or announced by offshore-incorporated companies in 2015, which was an increase from the 181 seen in 2014. 151 of these were located in the Cayman Islands, with the next most popular jurisdictions being: the BVI (11), Guernsey (10), Jersey (8), Bermuda (7), Hong Kong (7), Mauritius (7), and Seychelles (1).

Cameron Adderley, Global Practice Group Head of the Corporate Department at Appleby said: "Seventy-eight offshore companies completed their debuts across a wide range of stock exchanges, with a combined worth of almost USD11bn and an average size of USD140m."

The top five sectors for IPO activity were manufacturing (53), financial and insurance activities (43), professional, scientific and technical activities (20), construction (19), and information and communication (16). With USD4.7bn in deals and valuations in the sector, financial and insurance activities led IPO activity by value.

For offshore companies looking to list, the Hong Kong Stock Exchange proved by far to be the most popular, attracting 132 companies, included the top four IPOs by value.

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