Monthly Archives: December 2010

Hong Kong to improve corporate governance

30th December 2010

HKEx has just issued a consultation paper on corporate governance. The principal aim of the amendments is to encourage better accountability of issuers and directors, and also to bring practice in Hong Kong in line with that available in other international markets.

Publisher’s catalogue now available

29th December 2010

Hong Kong University Press has now published its Spring-Summer 2011 catalogue, which is also posted on its website. ‘IPO: A Global Guide’ features as the first book under the publisher’s titles highlighted for the coming season – and the book’s cover has also been chosen to illustrate the new catalogue.

An unwelcome spotlight on the Greenshoe

28th December 2010

HONG KONG (Dow Jones Investment Banker) – The greenshoe may find itself in the spotlight as institutional shareholders and governments agitate over fairness and fees. This would be an unwelcome development for investment banks.

China BOCI’s ECM Head on its Long March

23rd December 2010

HONG KONG (Dow Jones Investment Banker) – In 2005, Bank of China Ltd unit Bank of China International did not lead any IPOs in Hong Kong. Five years on and it has become a major player. Philippe Espinasse speaks with Marshall Nicholson, Global Head of Equity Capital Markets and Vice-Chairman of the Investment Banking division.

Keeping the underwriters honest

23rd December 2010

HONG KONG (Dow Jones Investment Banker) – Frustrated with what they increasingly perceive as a conflict of interest, a number of companies and their stakeholders are now engaging independent advisers to assess the work done by their investment banks.

Hong Kong market statistics for 2010

22nd December 2010

HKEx has just released a set of interesting statistics for the last 12 months. As expected, these highlight a number of new records in the securities markets achieved in 2010, with total equity funds raised up 22.9% y-o-y to US$101.2 billion. IPO funds raised were up 23.4% compared with the previous record in 2006, and reached US$52.8 billion.

Hong Kong extends electronic submissions

21st December 2010

Following the publication of consultation conclusions on electronic prospectuses on 26 November 2010, which were reported earlier on this blog, HKEx has further amended its listing rules on 15 December. This allows issuers to no longer submit printed copies of various documents to the Exchange.

Why multiple share listings?

18th December 2010

HONG KONG (Dow Jones Investment Banker) – Logically, there’s reason to offer around-the-clock trading on securities: Investors can trade from their home turf some of their large holdings. But Vale S.A.’s Hong Kong listing shows the value of such an option is questionable in practice.

 

 

I have set up this blog to report notable events on international IPOs.

These include particularly remarkable transactions, changes in market practice (whether pertaining to documentation, valuation or marketing techniques) and regulations, as well as appointments in the sphere of equity capital markets (ECM).

Although the blog has a bias towards the Asia-Pacific region, since this is where I am based, it is intended to be global in both its scope and outlook.

Please use the contact form above to report an IPO story or an ECM development.

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