HKEX profit jumps to record high on surging IPOs and turnover, beating market estimates
Hong Kong Exchanges and Clearing (HKEX) profit jumped to a record amid a boom in initial public offerings (IPOs) and sizzling stock market turnover in the second quarter, according to a stock exchange filing on Wednesday. Quarterly net profit for the operator of Asia’s third-largest stock market soared 21 per cent year on year to HK$5.38 billion (US$683.4 million), or HK$4.26 per share, higher…
Hong Kong's stock exchange operator, HKEX, reported a record-breaking profit of US$683 million in the second quarter, surpassing both its previous record and analysts' estimates. The surge in initial public offerings (IPOs) and increased stock market turnover fueled this remarkable growth, according to the exchange's financial filing.
The operator's quarterly net profit jumped 21% year-on-year to HK$5.38 billion (US$683.4 million) or HK$4.26 per share, exceeding the analysts' forecast of HK$4.96 billion. This achievement marked the second consecutive quarter of record profit for HKEX, following a HK$5.19 billion profit in the first quarter. Furthermore, the exchange recorded a first-half profit of HK$10.57 billion, a 24% increase, surpassing analysts' estimates of HK$10.15 billion and outperforming the previous year's record half-year earnings of HK$8.52 billion.
HKEX will distribute an interim dividend of HK$7.43 per share, a 24% rise from the previous year's HK$6 dividend.
Written by urgent.news from South China Morning Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
