Tag: Primary offerings

A hot time in the Citic

Citic Securities formally started book building for its US$2 billion Hong Kong float on Friday.  This is a marquee deal likely to generate a lot of interest. Investors have made a pile of money participating in IPOs of mainland financial institutions, and there is hope Citic can repeat that magic despite the challenging market conditions.


, , , , , China, Cornerstones, Hong Kong... +3 more

CITIC Securities impresses on its Hong Kong journey

HONG KONG (Dow Jones Investment Banker) – The long-awaited equity offering by China’s CITIC Securities Company Limited is finally under way. The brokerage is looking to raise up to US$2 billion from investors, and secure a secondary listing in Hong Kong. Bookbuilding is set to start on September 16, for an October 6 closing. Although CITIC Securities has been listed on the Mainland since 2003, its preliminary filing with HKEx provides a fascinating glimpse into China’s domestic investment banking industry and the activities of one of the leading houses there.


, , , China, Hong Kong, Primary offerings... +1 more

China Shipping Nauticgreen’s Chinese box surprise

HONG KONG (Dow Jones Investment Banker) – China Shipping Nauticgreen Holdings Company Limited (CSN) has just started bookbuilding for a proposed IPO of up to US$192 million in Hong Kong, led by Deutsche Bank and China Merchants Securities. Pricing is set for August 10. Less volatile than that of shipping lines, the business is expected to grow, thanks in part to a substantial newbuild ship overcapacity over the next couple of years which should drive freight prices down. With a likely single digit P/E, valuation is reasonable too – a welcome change from some recent Hong Kong offerings.


, , , , China, Hong Kong, Over-allotment options... +2 more

South China Morning Post interview

I was interviewed by Deputy Editor Jasper Moiseiwitsch in the South China Morning Post‘s “Money Post” supplement on 13 June. The article was introduced as “Confessions of an IPO banker” on the cover of the supplement, and the title was “In deal search, simplicity counts”.

Click below to see the interview, which is reproduced with permission.


, , , , Hong Kong, Interviews, Primary offerings... +2 more