Tag: Indonesia

The year of living dangerously

In December, I reviewed the disappointing volumes last year for primary equity issuance in Southeast Asia, and wondered whether 2016 could be the year when ECM bankers who cover the region become busy again. With the Chinese bourses now in free fall, the authorities there repeatedly depreciating the Yuan in a bid to prop up the economy, and an extension of the ban on equity sales by large investors in Shanghai and Shenzhen, market participants could indeed well turn their attention down South again. read

, , , , , China, Indonesia, IPO pipeline... +3 more

Game of thrones in the SAR

Hong Kong IPO issuance has seen healthy volumes so far this year. At US$68.3 billion, according to Dealogic, new listings on HKEx have already reached the level achieved for the entire year in 2014. The outcome of deals, however, remains heavily dependent on cornerstone investors, while oversized syndicates have sadly been back in full force since at least late spring. read

, , , , , , , China, Cornerstones, Hong Kong... +5 more

The ugly consequences of committed underwriting

HONG KONG (Dow Jones Investment Banker) – The US$500 million-plus privatization of national carrier PT Garuda Indonesia last month is widely thought to have been rushed and significantly overpriced, and some of the domestic underwriters reportedly may now need to raise capital to cover their losses. The sorry episode brings to light the practice of firm commitment underwriting of IPOs in some jurisdictions in Asia, and shows it actually does little for corporates, their shareholders and investors, let alone the brokerages involved.


, , Indonesia, Privatization, Underwriting