09 May 2011

I was interviewed on 9 May 2011 on Hong Kong’s RTHK 3 radio in the “Hong Kong Today” early morning show by business news presenter Nick Beacroft, on the subject of the proposed international board of the Shanghai Stock Stock Exchange. read
China, Hong Kong, Interviews, Secondary listings, Yuan securities
China, Hong Kong, Interviews... +2 more
09 May 2011
HONG KONG (Dow Jones Investment Banker) – PCCW Ltd.’s hope of spinning off its telecommunications business into Hong Kong’s first listed business trust were shattered when the Stock Exchange of Hong Kong’s listing committee rejected the application. The decision, revealed last week by PCCW, reinforces the SGX’s lock on this type of security, and the temptation for Hong Kong to lure this class of listing away from Singapore must have been intense. But PCCW’s plan raised troubling corporate governance issues.
read
Business trusts, Corporate governance, Hong Kong, Singapore
Business trusts, Corporate governance, Hong Kong... +1 more
04 May 2011

Chinese social networking site Renren is hoping to replicate the blowout success of another Chinese internet company, Qihoo 360 Technology, which sold US$176 million worth of shares in March on Nasdaq, the US technology stock market. read
China, Corporate governance, Due diligence, NYSE, US
China, Corporate governance, Due diligence... +2 more
04 May 2011
HONG KONG (Dow Jones Investment Banker) – The long-awaited international board of the Shanghai Stock Exchange (SSE) apparently is inching closer to becoming a reality. But its offerings are likely to be dominated by Chinese companies incorporated offshore, and, if history is any guide, listing there is likely to do little in the long run for truly international businesses.
read
China, Hong Kong, Secondary listings, Yuan securities
China, Hong Kong, Secondary listings... +1 more
04 May 2011

“IPO: A Global Guide” featured on 2 May 2011 in the “Inner Circle of Finance” weekly column written by hedge fund manager C.K. Edward Chin. An extract of the column mentioning the book, which also included a picture of its front cover, is set out below. read
Hong Kong, Interviews
Hong Kong, Interviews
02 May 2011
HONG KONG (Dow Jones Investment Banker) – Mongolia’s top 20 index is up more than 50% in local terms this year, but trading volumes remain diminutive. This could all change with the proposed listing of coal mining behemoth Erdenes Tavan Tolgoi (Erdenes TT), whose name means “five heads” in Mongolian. While lead banks have been appointed, their exact roles are said to remain fluid, and a gaggle of global houses is still competing to find its way into the offering, which will raise Mongolia’s profile on the international stage. Indeed, the fortunes of Mongolian IPOs will continue to rely heavily on international institutional investors.
read
Hong Kong, Mongolia, Privatization, Secondary listings, UK
Hong Kong, Mongolia, Privatization... +2 more
28 April 2011

“IPO: A Global Guide” featured in this week’s edition of EuroWeek magazine, in the “Big Picture” column written by Equity Editor Nick Jacob. The article is reproduced below. read
Hong Kong, Interviews, UK
Hong Kong, Interviews, UK
27 April 2011

HONG KONG (Dow Jones Investment Banker) – The first-ever yuan-denominated IPO in Hong Kong – for Hui Xian REIT – priced Tuesday, after having received a rather subdued reception from the public. Reasons include a rather aggressive yield, the offer structure for the transaction and controlling shareholder Li Ka-shing’s reputation for leaving little on the table when pricing deals, as well as uncertainties about aftermarket trading and macro market developments.
read
China, Hong Kong, REITs, Yuan securities
China, Hong Kong, REITs... +1 more