Like an endangered species clinging on to the last remnants of its natural habitat, the Hong Kong initial public offering was scantly seen in 2012. The euro-zone sovereign debt crisis rumbled through the markets for most of the year, putting paid to many issuers’ plans.
After a rather busy 2012, here’s wishing the very best to all my readers for 2013. read
China Machinery Engineering Corporation is in the market to raise up to US$500 million equivalent through an accelerated offering, targeted at Regulation S (and Hong Kong retail) investors only – probably one of the last IPOs in Hong Kong this year. read
Amid particularly tense Sino-Japanese relations, the US$3.1 billion IPO of mainland insurer PICC Group is all the more remarkable in that it included a rare tranche, solely targeted at Japanese investors. read
I was, again, solicited by the financial media this morning, to comment on the IPO trading debut of PICC Group’s US$3.09 billion IPO. read
Season oblige, I was asked by the South China Morning Post to write a long piece on wine auctions, which many equity capital markets bankers follow as a pastime, and which was published in today’s Food & Wine supplement. read
Pre-IPO research has once again been in the spotlight in two recent Hong Kong transactions. In both, the issuers were said to have been leaning on brokers to produce valuations that met their expectations. read
I participated, alongside 14 other professionals, in a study for an in-depth report from PwC and Baker & McKenzie (coordinated by consultancy Meridian West) on cross-border IPO trends. read
The IPO of one of the mainland’s largest property insurers, The People’s Insurance Company (Group) of China, which currently undergoing bookbuilding as it seeks to raise up to US$3.6 billion, is setting a bit of a record with no less than 17 bookrunners – or senior underwriters assigned to gather orders from institutional investors.
I was interviewed today by Assistant Producer Ansuya Harjani for an article entitled “Is IPO Fever Returning To the Hong Kong Market?” – just published on CNBC.com. read