HONG KONG (Dow Jones Investment Banker) – As the largest announced IPO so far this year, the offering of HPH Trust, the container port assets of Hutchison Whampoa, will significantly boost Singapore Exchange Ltd.’s credentials in the ECM arena as it finalizes its tie-up with the Australian Securities Exchange (ASX Ltd.).
HONG KONG (Dow Jones Investment Banker) – It’s been an eventful week in the otherwise cozy world of stock exchanges. But to what extent will the latest round of M&A benefit ECM bankers who underwrite stock offerings for their clients?
Please click on this link or on the right-hand side “Introduction” tab under “THE BOOK” above to read the introduction to “IPO: A Global Guide.”
Links to on-line merchants’ websites to pre-order the book will also be posted on IPO-book.com shortly.
HONG KONG (Dow Jones Investment Banker) – As the Stock Exchange of Hong Kong continues to attract a wide array of Chinese issuers as well as, increasingly, international companies looking to tap Asian investors, proposed changes to boardroom rules are very welcome and long overdue.
In a post on his website, Webb-site on 15 February, Hong Kong-based governance activist David Webb has joined the debate on the lack of liquidity arising from multiple listings, a topic that was the subject of an article I published on both Dow Jones Investment Banker and on the website of The Wall Street Journal late last year. My article was also posted on IPO-book.com on 18 December. read
As one of the largest IPOs in Indonesia for several years, Indonesia’s privatization of its national airline Garuda was closely watched by market participants. The poor start of trading, however, with the shares opening 6.7% down and closing 17% below the offer price on the first day (and, at one point, falling by as much as 23%), may negatively affect the IPOs of other privatization candidates in South East Asia’s most populous nation. read
An interesting article published on a US blog details the advantages (and disadvantages) of opening a yuan-denominated bank account abroad. We have previously discussed on this blog the increase in offshore renminbi funds and deposits. The author recalls his conversation with the staff at the Manhattan main branch of Bank of China, which makes fascinating reading. read
HONG KONG (Dow Jones Investment Banker) – Prada SpA announced plans last week for an IPO and listing in Hong Kong, which, given the Italian luxury company’s growing market recognition and the region’s rising consumer appetite for luxury goods, should be well received. However, Prada should avoid the lure of a simultaneous dual listing in Milan.
