Posts tagged as: Thailand

North-by-northwest

2nd December 2015

Around this time last year, I reviewed the dismal performance of the Hong Kong primary markets, and ventured a guess that investors could instead turn en masse to ECM transactions in Malaysia, Singapore, Thailand, Indonesia – and even the Philippines. How wrong I was!

Asian IPOs go binary

11th January 2015

2014 has come and gone, with a fairly honourable tally for Asia’s busy ECM desks. According to Dealogic, last year’s ECM volume on Asia ex-Japan exchanges, and excluding China’s A-share markets, was just under US$135 billion, more than in each of 2013 and 2012.

The reason for the season: ECM Christmas musings

3rd December 2014

Forget about reindeer with shiny noses, fir trees and shopping mall carols. For those in the finance industry, the end of the year takes an altogether different meaning.

Cornering elusive cornerstones

30th September 2014

In Asia, cornerstone investors are regarded as a vital ingredient for successful major listings. And Hong Kong – where such investors are subject to lock-up restrictions – has also increasingly seen the advent of anchor investors. 

1H 2012 APAC IPO and ECM statistics

9th July 2012

An old joke tells of two matrons having lunch at an expensive restaurant. One lady says, “The food is so bad,” and the other says, “Yes, and the portions are so small.” This neatly sums up IPO bankers’ first half: markets are challenging and they are working harder to sell smaller deals for less fee income. Bankers’ complaints about difficult deals are likely to be followed by grumbling that they don’t have enough of them.

Strengthening Big C’s institutional book?

10th April 2012

HONG KONG (Dow Jones Banking Intelligence) – Thailand’s Big C Supercenter PCL is planning to raise capital through the issue of new shares in a fairly modest private placement. Following the recent successful IPO of Tesco Lotus Retail Growth Freehold & Leasehold Property Fund, controlled by Tesco plc’s Thai unit, it should instead increase its free float through a larger, fully marketed offering, including a combination of new and old shares.

Want IPO excitement? Go to Southeast Asia

9th April 2012

The Hong Kong market for initial public offerings is as dull and dank as swamp water. Some deals have even been pulled, which means the line of listing applicants just gets longer.

Asia ECM shows binary outcomes

19th March 2012

HONG KONG (Dow Jones Banking Intelligence) – Despite a significant pipeline of deals, at this stage in the year ECM transactions in Asia remain very much characterized by binary outcomes. Large, eye- catching offerings generate significant amounts of investor demand, while less obvious – and perhaps more challenging – transactions (when they close) have posted poor returns for investors.

 

 

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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