HONG KONG (Dow Jones Investment Banker)- The report from Hong Kong’s Securities and Futures Commission (SFC) this week couldn’t have come at a more awkward time. Just as Singapore is mounting a challenge to Hong Kong’s dominance in Asian equity capital markets, the regulator has chastised brokers and banks for failing to meet standards as IPO sponsors. Hong Kong Exchanges and Clearing Ltd. (HKEx) thus finds itself in the spotlight at the same time it needs to defend its market share.

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“IPO: A Global Guide” was featured on Bloomberg TV today in an interview I gave to anchor Susan Li in her “First Up” show at 07:40am Hong Kong time.

This is a high-profile segment which, since it takes place early in the morning, is being played out repeatedly throughout the day’s programming. read

HONG KONG (Dow Jones Investment Banker) – Allocating distinct retail tranches within equity capital markets deals is a purely mechanical exercise that involves balloting by a share registrar and transfer agent. By contrast, assigning shares to institutional investors is more of an art than a science, and involves making subjective judgment calls. The recent US$2.5 billion equivalent placement by Ping An Insurance (Group) Company of China Ltd. shows how a seemingly simple transaction can leave a sour taste with investors, as well as the importance of structuring and allocating offerings in an even-handed manner.

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HONG KONG (Dow Jones Investment Banker) – Richard Li appears again to be following in his father’s footsteps. Hong Kong’s richest man, Li Ka-shing, just spun off the container port assets of Hutchison Whampoa Ltd. as a business trust on Singapore’s SGX in the world’s largest IPO so far this year. Now PCCW Ltd., in which the younger Li holds a 27.1% stake, is considering a similar listing in Hong Kong for its telecommunications arm, which accounts for about 90% of PCCW’s business.

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HONG KONG (Dow Jones Investment Banker) – Last weekend’s simulated trading exercise for yuan securities in Hong Kong, coordinated by the stock exchange, was always a clear signal that the long- awaited launch of the first real estate investment trust to be traded in China’s currency would soon follow. True to form, investor education may be about to kick off for the deal. What has emerged so far shows a few innovations in the offer structure, as well as potentially aggressive pricing.

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IPO-book.com has now crossed the milestone of 10,000 page views, even before the forthcoming release of “IPO: A Global Guide” on 15 April 2011. Thank you to all our readers.

Some statistics from Google Analytics are set out below. read

As previously reported on this website in January 2011, the Stock Exchange of Hong Kong is expanding the list of jurisdictions it recognizes to admit international companies to listing in the SAR.  The latest jurisdiction to be recognized is France. read

HONG KONG (Dow Jones Investment Banker) – The large-scale trading simulation this week of offshore yuan-denominated securities in Hong Kong lays the groundwork for a market that could soak up the mountains of Chinese currency that cannot be repatriated easily to the mainland. It also looks very much like a dress rehearsal for Cheung Kong (Holdings) Ltd.’s long-awaited IPO and listing of a US$1 billion equivalent, yuan-denominated REIT in Hong Kong.

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