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.
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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
I was interviewed on CNBC’s “The Call” this morning by anchors Bernie Lo and Emily Chan on what’s in store for investors with the IPO in Hong Kong of mainland Chinese insurer PICC Group. read
PICC Group will finally kick off bookbuilding tomorrow, Thursday 22 November, for an IPO that could reach US$3.6 billion, and even top US$4 billion, assuming exercise in full of the over-allotment option. This would make it the largest IPO so far this year in Asia ex-Japan, ahead of the flotation of Felda Global Ventures in Malaysia. read
People’s Insurance Company (Group) of China, otherwise known as PICC, is set to hit the market in Hong Kong this month in what could potentially make it the largest IPO in Asia (excluding Japan) this year. read
An interesting story was published on Bloomberg today about the forthcoming introduction of business trusts in Malaysia. read
Second-hand luxury handbag retailer Milan Station made headlines last week as it warned of an expected loss for this year, which it said was to be blamed on continued slow demand for luxury goods. read
I was interviewed this morning by anchors Bernie Lo and Emily Chan on CNBC’s programme “The Call” on the IPO trading debut for Shanghai Fosun Pharmaceutical in Hong Kong. read
Everyone knows that Hong Kong’s IPO market is going through tough times. New deals are rare, depriving punters of a once favoured way of betting on equities and generating quick gains. read
Last week, I wrote about the delay in the launch of Shanghai Fosun Pharmaceutical’s long awaited equity offering in Hong Kong. As was expected at the time, bookbuilding finally started on October 16 for what is an accelerated timetable (on account of the upcoming bank holiday) that will now see pricing on October 24, and listing and start of trading on October 30. read
