Monthly Archives: November 2011

Sitoy – heading for the trick bag?

28th November 2011

HONG KONG (Dow Jones Investment Banker) – Luxury handbags and small leather goods outsourced manufacturer Sitoy Group Holdings Ltd. started bookbuilding Monday for a US$125 million, all-primary IPO in Hong Kong through sole bookrunner Bank of AmericaMerrill Lynch, with pricing set for November 29. The company looks attractive, and pricing appears reasonable. Shame about the timing.

In ECM, local is beautiful

22nd November 2011

HONG KONG (Dow Jones Investment Banker) – The Stock Exchange of Hong Kong’s growing effort to secure international listings speaks volumes about the possible threat posed by the Shanghai international board – when it eventually happens. Recent attempts, however, have been disappointing and HKEx should take stock of Kuala Lumpur’s (KL’s) Bursa Malaysia. Staying local has proved worthwhile.

Mainland jewellery favourite set to sparkle in the gloom

21st November 2011

Do Hong Kong’s long-suffering investors in initial public offerings finally have something to look forward to? The jumbo listing of Dr Cheng Yu-tung’s jewellery retail empire has been widely flagged and heavily anticipated.

Bloomberg Television interview

18th November 2011

I was interviewed on Bloomberg Television again this morning by Rishaad Salamat on his “On The Move Asia” show.

Death of a salesman

16th November 2011

HONG KONG (Dow Jones Investment Banker) – With market volatility comes caution, and IPO syndicates are no exception. Internationally and in Asia, these are increasingly becoming crowded at the senior end for sizeable transactions in particular. Junior underwriters, whose contribution remains marginal, are being squeezed out.

Blue-chips ahoy!

14th November 2011

What a disappointing vintage 2011 will have been for IPOs. The first half of the year started well enough, but it all came to a halt, with a succession of macro events messing up the markets.

HKEx conference on listing of European companies

12th November 2011

On 3 November 2011, I gave a presentation at the Stock Exchange of Hong Kong (HKEx) on opportunities for listing European companies there. The presentation was organized at the initiative of the European Chamber of Commerce in Hong Kong and of the EU Business Information Programme (EUBIP).

A Hong Kong fashion show for Zara?

7th November 2011

HONG KONG (Dow Jones Investment Banker) – The Stock Exchange of Hong Kong (HKEx) is reportedly trying to woo Spain’s Inditex to list in Asia, as part of an international marketing roadshow in Europe in November. Such a move would make little sense if what is suggested is a secondary listing. But a spin-off in Hong Kong of the group’s fast-growing regional operations could be an attractive move.

 

 

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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