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Tag: Prospectuses

Churning the sea of milk

To many, the 85% collapse in the share price of China Huishan Dairy Holdings Co on March 24 came as a complete surprise. With now all of the company’s non-executive directors having tendered their resignations (in the process also effectively wiping out Huishan’s audit committee), the company’s key treasury executive still missing, and the controlling shareholder seemingly heading for the exit amid talk of margin calls, the milk producer’s short stint as a public company increasingly looks like a horror story. read

, , , , , China, Compliance advisers, Cornerstones... +3 more

Hong Kong is not fit for unicorns

The filing of form S-1, the draft registration statement for the proposed $3bn New York IPO of Snap, the $25bn parent company of messaging app Snapchat, was full of surprises — not all of them good for investors. If anything, it also showed that Hong Kong will, most likely, never be able to compete with the US exchanges when it comes to listing unicorns. read

, , , , Corporate governance, Financials, Hong Kong... +2 more

Letter to South China Morning Post

“More relevant template from Malaysia”

I am the author of IPO: A Global Guide and refer to Enoch Yiu’s White Collar column (“Fresh reminder of need to end muddle over HKEx roles”, October 1). She said “London and Singapore have long ago brought in independent regulators to be involved in the listing approval process for companies undergoing IPOs”. read

, , , , Hong Kong, Malaysia, Prospectuses... +2 more

It’s all in the timing

Shanghai Fosun Pharmaceutical last week pushed back the launch of its US$600 million Hong Kong initial public offering from 11 October to, most likely, 15 October – possibly putting it on track for an accelerated marketing timetable. (See my prior column in Money Post on 30 April). read

, , , , , , , Accountants, Anchor investors, China... +5 more