Posts tagged as: Privatization

The East is Red

6th September 2017

Over the summer, the Stock Exchange of Hong Kong (HKEX) released a fascinating, but little noticed, survey detailing cash trading on its two listing platforms, the Main Board and GEM. The survey also included southbound trading undertaken through the Shanghai-Hong Kong and Shenzhen-Hong Kong Stock Connect schemes, launched in 2014 and December 2016, respectively. 

The Merlion roars again

21st July 2017

Something quite extraordinary has just been happening in Singapore. For the first time in several years, investors in the city-state have been able to punt on a local, multi-billion-dollar IPO.

Year of the dragon

8th June 2017

Just as the country’s prime minister, Nguyen Xuan Phuc, met with Donald Trump on a US tour, Vietnam’s equity capital markets were repeatedly in the news over the last few weeks, with a flurry of IPOs and new listings, heralding that issuers there may finally be coming of age.

The year of living dangerously

9th January 2016

In December, I reviewed the disappointing volumes last year for primary equity issuance in Southeast Asia, and wondered whether 2016 could be the year when ECM bankers who cover the region become busy again. With the Chinese bourses now in free fall, the authorities there repeatedly depreciating the Yuan in a bid to prop up the economy, and an extension of the ban on equity sales by large investors in Shanghai and Shenzhen, market participants could indeed well turn their attention down South again.

Breaking out of the Chinese box

26th August 2015

The last few months have been a bit of a roller coaster for Chinese equities, both on the mainland and in Hong Kong. The sharp volatility in the indices has frightened investors away and put a damper on primary issuance. But the bubble finally bursting is symptomatic that further changes are badly needed. These also need to be more than just skin deep.

CICC’s IPO: Swan song or new beginning?

29th July 2015

China-based investment bank China International Capital Corporation (CICC) filed the application for its proposed IPO on the stock exchange of Hong Kong on 22 July. That should put it on track for a hearing by the Listing Committee around the last week of August. But while CICC is the country’s oldest investment bank and has an impeccable pedigree, it has fallen behind new players who have been quicker to adapt to a changing marketplace, and will likely be priced at a conservative valuation.

All quiet on the Eastern front

3rd March 2015

There seems to be no end in sight for the Asian ECM bout of depression. Above all, it’s been a pretty miserable year so far for IPOs, in sharp contrast to new listings activity in other parts of the world.

Another (full) round of interviews

7th December 2012

I was, again, solicited by the financial media this morning, to comment on the IPO trading debut of PICC Group’s US$3.09 billion IPO.

 

 

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.

  •  

    • 2017
    • 2016
    • 2015
    • 2014
    • 2013
    • 2012
    • 2011
    • 2010
  •