Hong Kong's initial public offering market is set to flourish again in 2014 when 85 to 100 companies are expected to float shares on the local exchange to raise HK$170 billion-HK$210 billion ((US$21.9 billion-US$27.1 billion), a report said Tuesday.

Though the numbers represent a 3.8 percent to 18.2 percent fall in new listings, they mark a 2.4 percent to 26.5 percent rise in funds raised compared with 2013, Deloitte Touche Tohmatsu said in the report.

"The negative impact on the global market resulting from the mild tapering of the US bond-purchasing program is likely to be short-term," [Company Registration in USA]said Dick Kay, co-leader of the National Public Offering Group of Deloitte China.

He forecasts that the market remains confident in the medium- to long-term outlook of the Chinese economy and the US economic recovery.

Hong Kong's IPO market saw a record-breaking year in 2013, with 104 new listings raising HK$166 billion, up 84 percent from a year earlier, according to the report.

The exchange ranked second globally by proceeds raised in 2013, trailing the New York Stock Exchange, with the London Stock Exchange, NASDAQ Stock Market and Tokyo Stock Exchange following it, [Company Incorporation USA]said the accounting firm.

Deloitte anticipates that for the Chinese mainland market, about 200 to 230 companies in the IPO pipeline are expected to launch their shares next year, raising about 150 billion yuan (US$24.6 billion) to 170 billion yuan.