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Tag: IPO pipeline

Doing away with Hong Kong’s free float rule

On July 27, the HKEx announced that “it was minded to exercise its power” to cancel the listing of China Oriental Group within a period of six months, due to the company’s insufficient public float. This, however, was only the latest step in a rather long saga, which illustrates to a tee not only that the exchange’s minimum free float rule actually serves little purpose, but also how incredibly slowly the regulators can move to make decisions in the city, thereby hurting both institutional and retail investors. read

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The year of living dangerously

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. read

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Can the Malaysian tiger roar again?

What has happened to Malaysia’s primary equity markets? Once the darling of ECM departments, featuring highly successful multi-billion dollar offerings by the likes of Petronas Chemicals, Felda Global Ventures or IHH Healthcare, the Southeast Asia nation now languishes at the bottom of the regional league tables. read

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