Fortune (June 1)
“Home-sale prices in 11 of the 50 biggest U.S. metro areas are already falling, according to data from Redfin, which sees the nationwide median sale price declining 1% on an annual basis in the fourth quarter of this year. That’s as listings grow and mortgage rates remain high, while sellers outnumber buyers by record amounts.”
Tags: Buyers, Declining. Q4, Falling, High, Home, Listings, Metro areas, Mortgage rates, Nationwide, Redfin, Sale price, Sellers, U.S.
Investment Week (January 6)
In 2024, the London Stock Exchange had the lowest number of new listings since at least 2010, when records began. “There were just 18 IPOs on the main market and AIM last year,” In contrast, 88 companies either delisted or transferred their “primary listing from the main market in 2024, with a plethora of these companies citing declining liquidity and falling valuations as the reasons for ditching the LSE.”
Tags: 2010, 2024, Aim, Declining liquidity, Delisted, Ditching, Falling valuations, IPOs, Listings, LSE
Bloomberg (June 30)
“The Federal Reserve is cooling off the red-hot housing market as it fights to curb inflation by driving up interest rates.” The ensuing “housing slowdown is helping to solve the US real estate market’s most intractable problem: tight inventory.” New sellers are entering the market at a faster pace while there are “fewer buyers competing.” As a result, “the number of active US listings jumped 18.7% in June from a year earlier, the largest annual increase in data going back to 2017.”
Tags: Buyers, Cooling off, Fed, Housing market, Inflation, Interest rates, Intractable, Inventory, Listings, Real estate, Red-hot, Sellers, Slowdown, U.S.
Institutional Investor (April 7)
“Companies that have gone public by merging with a special purpose acquisition company have underperformed the S&P 500 by eighty percentage points since 2018.” Indeed, “at no time during the recent SPAC boom—except for a few days in early 2021—did these new listings beat the S&P.”
Financial Times (May 20)
“Today, Hong Kong’s future as a global financial centre looks uncertain as the rival Shanghai Stock Exchange grows in size and credibility…. On the face of it, conditions at the HKEX look fine.” Revenues, profits and new listings were all up in 2017. “Yet Hong Kong was only third when it came to money raised in IPOs. Shanghai and New York were ahead by value, while Shanghai and Shenzhen surpassed the number of Hong Kong listings.”
Tags: HKEX, Hong Kong, IPOs, Listings, New York, Profits, Revenues, Rival, Shanghai, Shanghai Stock Exchange, Shenzhen
Financial Times (March 24)
In Hong Kong, the Securities and Futures Commission “will not be able to keep an open mind for very long” on whether to allow dual-class shares. Since 1987, Hong Kong has abided by the “current one-share-one-vote principle.” Citing the weakness of corporate governance in Hong Kong, some investors want to retain the current system, while others are calling for change to better compete with U.S. listings where dual-class shares are allowed.
Tags: Corporate governance, Dual-class shares, Hong Kong, Investors, Listings, Securities and Futures Commission, U.S., Vote
New York Times (September 26)
A proposal to modify securities listing regulations appears to have gained bipartisan support in the U.S. The proposal would allow small investors to support companies through “crowdfunding, a financing model that relies on collecting small sums of money from many people over the Internet.” Since the 1930s companies have either had to limit fund-raising to wealthy investors or follow the intricate registration process which typically proved “too costly given the small sums being sought.”
A proposal to modify securities listing regulations appears to have gained bipartisan support in the U.S. The proposal would allow small investors to support companies through “crowdfunding, a financing model that relies on collecting small sums of money from many people over the Internet.” Since the 1930s companies have either had to limit fund-raising to wealthy investors or follow the intricate registration process which typically proved “too costly given the small sums being sought.”
Tags: Crowdfunding, Investors, Listings, Registration, U.S.
