Knowledge is power. And it’s especially true when it comes to investing in initial public offerings. On July 8, fellow columnist Jake van der Kamp argued that retail investors seem to be getting too little of it – or rather that information on IPO issuers is being made available to the public too late in the process (“SFC appears to be in la-la land over listing documents”). read
Graff Diamonds, a high-end jeweller, was supposed to have turned around Hong Kong’s moribund IPO market. It was not to be. Instead the company pulled its US$1 billion-equivalent listing on 30 May, piling more disappointment on an already massively downbeat market plagued by serial deal cancellations. What went wrong?
HONG KONG (Dow Jones Investment Banker) – Much criticized at the time of the dot-com boom, the independence of research analysts is again in question as some say they could be compromised through interviews by independent advisers prior to IPO mandates being handed out. But as analysts’ views can on occasion differ from the sometimes rosy picture that ECM and origination bankers paint in their pitches, understanding the research take on a sector – or even on the market generally – can only help restore confidence in new issues.
“IPO: A Global Guide” featured on 1 June in an article published in the China Economic Review on the subject of the liberalization of China’s financial system, and on the future of Hong Kong as a financial centre.
Hong Kong Exchanges and Clearing Limited (HKEx) published on 10 December 2010 its consultation conclusions on the acceptance of mainland accounting and auditing standards and mainland audit firms for mainland incorporated companies listed in Hong Kong. read
The Securities and Futures Commission (the SFC) and the Stock Exchange of Hong Kong launched a joint consultation on 3 December 2010 on proposed changes to the requirements for property valuation disclosure in prospectuses and circulars for issuers and listing applicants. read
The Securities and Futures Commission (the SFC) and The Stock Exchange of Hong Kong Limited (the SEHK), a wholly-owned subsidiary of Hong Kong Exchanges and Clearing Limited (HKEx), jointly released consultation conclusions on 26 November 2010, clearing the way for public offers to take place without paper listing documents. read
