Monthly Archives: March 2011

PCCW’s business trust – Like father, like son?

30th March 2011

HONG KONG (Dow Jones Investment Banker) – Richard Li appears again to be following in his father’s footsteps. Hong Kong’s richest man, Li Ka-shing, just spun off the container port assets of Hutchison Whampoa Ltd. as a business trust on Singapore’s SGX in the world’s largest IPO so far this year. Now PCCW Ltd., in which the younger Li holds a 27.1% stake, is considering a similar listing in Hong Kong for its telecommunications arm, which accounts for about 90% of PCCW’s business.

A primer on Hui Xian REIT

30th March 2011

HONG KONG (Dow Jones Investment Banker) – Last weekend’s simulated trading exercise for yuan securities in Hong Kong, coordinated by the stock exchange, was always a clear signal that the long- awaited launch of the first real estate investment trust to be traded in China’s currency would soon follow. True to form, investor education may be about to kick off for the deal. What has emerged so far shows a few innovations in the offer structure, as well as potentially aggressive pricing.

IPO-book.com gets 10,000 page views

29th March 2011

IPO-book.com has now crossed the milestone of 10,000 page views, even before the forthcoming release of “IPO: A Global Guide” on 15 April 2011. Thank you to all our readers.

Some statistics from Google Analytics are set out below.

HKEx to admit French companies to listing

28th March 2011

As previously reported on this website in January 2011, the Stock Exchange of Hong Kong is expanding the list of jurisdictions it recognizes to admit international companies to listing in the SAR.  The latest jurisdiction to be recognized is France.

Trading the offshore yuan gravy train

25th March 2011

HONG KONG (Dow Jones Investment Banker) – The large-scale trading simulation this week of offshore yuan-denominated securities in Hong Kong lays the groundwork for a market that could soak up the mountains of Chinese currency that cannot be repatriated easily to the mainland. It also looks very much like a dress rehearsal for Cheung Kong (Holdings) Ltd.’s long-awaited IPO and listing of a US$1 billion equivalent, yuan-denominated REIT in Hong Kong.

Book launch on 15 April 2011

24th March 2011

“IPO: A Global Guide” will be formally published on 15 April.

Details for the launch are set out below.

A shift of sentiment in Asian ECM?

22nd March 2011

HONG KONG (Dow Jones Investment Banker) – What a difference a year makes. In 2010, there was a bumper harvest for new equity issues. That’s not so in Asia this year.

Hong Kong is full of Chinese money!

20th March 2011

On 18 March 2011, I wrote a column which was published in the “Features & Analysis” section of the website of BBC News. The topic was the Stock Exchange of Hong Kong’s simulation exercise for the trading of renminbi-denominated securities and their development.

To read the article, please click HERE.

 

 

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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