国际会计和咨询机构安永近日发布报告称，2020年首季全球IPO（首次公开发行）市场延续了2019年四季度的良好势头；虽然之后的新冠肺炎疫情对全球资本市场产生一定影响 ，但A股IPO活动依然保持平稳，并在今年一季度夺得全球IPO交易量和筹资额的双料冠军。
安永今日发布的《2020年第一季度全球IPO趋势》指出， 近期新《证券法》的推出以及以注册制为主线的创业板改革的有序推进，对中国内地IPO活动表现均是利好。政府推出一系列稳定政策，下半年A股IPO有望稳中有进。
安永大中华区上市服务主管何兆烽表示：“虽然2020年第一季度大中华区IPO市场受到新冠肺炎疫情的影响，但我们对于2020年接下来三个季度的经济和IPO前景持谨慎乐观的态度。“
何兆烽认为，中国政府已经及时推出相关支持的政策，未来还会采取更多经济刺激措施来帮助企业上市。疫情结束后，这些政策措施将有力地推动国家经济和IPO市场的快速恢复。”
报告显示，大中华区今年一季度IPO交易数量较去年同期增长34%（90宗），筹资额较去年同期上涨104%（132亿美元）。 其中中国内地沪深两市A股IPO共计52宗（上交所共34宗，深交所共18宗），筹资额113亿美元。
一季度港交所IPO共38宗，筹资额18亿美元。从全球交易所范围看，按交易量计，港交所和上交所分列全球前二；按筹资额计，得益于第一季度全球最大IPO京沪高铁的成功上市，上交所以98亿美元独占鳌头。
2020年第一季度中国内地IPO活动保持稳定。实际上，2月的IPO（21宗）比1月份（16宗）要多，但平均交易规模较小。从行业来看，工业企业继续主导IPO市场，保持新股发行数量第一，其次是科技和医疗保健行业。
科创板继续扮演重要角色，占2020年第一季度中国内地交易量的44%和筹资额的36%。此外，排队上市企业数量庞大和支持性IPO政策出台将助力国内资本市场的IPO活动在接下来的几个月中继续保持稳健态势。
港交所2020年第一季度的IPO活动较2019年第四季度显著下降。与去年同期相比，2020年第一季度的交易量虽小幅增长（6%），但筹资额下降32%，且2月没有中国内地公司在港交所进行IPO。部分有意申请上市的企业选择推迟上市计划。
报告称，虽然新冠肺炎疫情对所有公司都造成了冲击，但有些行业受到的冲击更为严重。寻求在大中华区上市的企业，一方面需要考虑其目标交易所对利润和/或市值的要求；另一方面，新冠肺炎疫情带来了商机，而且在疫情得到控制后，这些商机可能还会继续存在，特别是在医疗保健领域。如果能把握好这些机会，IPO企业将可能会吸引市场的强烈关注。
Shanghai tops world's IPO league table despite coronavirus
Shanghai has topped global initial public offering (IPO) league table for the first time in nearly three years, even as the coronavirus epidemic which originated in China rocked markets around the world.
A total of 33 companies raised $7.31 billion floating on the Shanghai main board and the city’s start up-focused STAR market, according to Refinitiv data for the first quarter, easily outstripping New York’s Nasdaq where 17 companies raised $5.13 billion via IPOs.
But even as Shanghai basks in success, for cash-seeking companies and their bankers the question is whether China can maintain this momentum as the coronavirus continues to cause massive disruption in global financial markets.
While Shanghai hosted the $4.4 billion IPO of Beijing-Shanghai Speed Railway early in January, accounting for most the funds on the main board, STAR market issuance held up even as the country went into virtual lockdown in February.
Eight companies raised $2 billion that month and a further 5 deals in March were worth $615.5 million.
China's markets have fared better than many Western benchmarks, with the blue-chip CSI 300 .CSI300 down 9.4% for the year as of Friday March 27, compared with tumbles of 21% fall for the S&P 500 .SPX in New York and 25% for the pan-European STOXX 600 index.
EY Greater China IPO practice leader Terence Ho said the fiscal response from China’s government - which accelerated a massive program of economic stimulus measures - could help boost the prospects of companies looking to list on the mainland markets.
“The Chinese government has already rolled out timely policies to help companies, with more economic stimulus on the way,” Ho wrote in a recent report.
“These efforts should help the economy and IPO markets recover more quickly when the outbreak is controlled.”
China has also relaxed the rules for follow-on share sales by listed companies in an effort to help virus-hit firms raise cash.
January-March 2020 was the first time since the third quarter of 2017 that Shanghai topped the global leader board to beat the larger New York and Hong Kong exchanges.
“I’m not surprised,” said Zhu Ning, deputy dean of the Shanghai Advanced Institute of Finance (SAIF).
“The number of Chinese start-ups is huge and there’s an increasing tendency for Chinese companies to list in the domestic market, where valuation is much higher.”
Thailand ranked third for IPOs, thanks to the $2.5 billion IPO of Central Retail CRC.BK in February - the country’s largest ever IPO.
The largest deal on the Nasdaq was the $1.86 billion of drug research firm PPD Inc in early February.
