In Asia, cornerstone investors are regarded as a vital ingredient for successful major listings. And Hong Kong – where such investors are subject to lock-up restrictions – has also increasingly seen the advent of anchor investors. read
Amid more deals coming to market in recent weeks, there has been much talk about a potential re-launch in Hong Kong of WH Group’s IPO, a deal that was famously pulled last April after a mammoth syndicate of 29 bookrunners failed to secure interest from investors. read
A quick glance at the SGX’s website shows that only six new listings closed on the Main Board since the start of the year. read
The recent overhaul of Hong Kong’s IPO regime has arguably resulted in better quality issuers coming to market. read
Another week, another Hong Kong IPO with a silly number of bookrunners on the tombstone. read
I now write “Clawback” for GlobalCapital (formerly known as EuroWeek), a new column dissecting topics in Asia’s equity capital markets. read
I was back in CNBC’s Hong Kong studio this morning to comment on “The Call” hosted by Bernie Lo, on Hong Kong Electric Investments’ IPO trading debut on HKEx. read
I was back in RTHK 3’s Admiralty studio this morning for a live radio interview in the “Money for Nothing” programme, hosted by anchor Bryan Curtis. read
I was interviewed by BBC News again, this time about the IPO of China Huishan Dairy Holdings, which at US$1.3 billion (pre Greenshoe) currently stands as the second largest IPO in Hong Kong in 2013, after that of Sinopec Engineering. The deal was also the largest consumer sector IPO in Asia since the flotation of Chow Tai Fook Jewellery (also in Hong Kong) in December 2011. read
Michael Flaherty and Elzio Barreto published on Reuters today an account of what apparently really went on behind the scenes at a meeting of the underwriters for the US$1.3 billion IPO of Huishan Dairy, Hong Kong’s second largest flotation so far this year. read
