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Tag: IPO pipeline

1H 2012 APAC IPO and ECM statistics

An old joke tells of two matrons having lunch at an expensive restaurant. One lady says, “The food is so bad,” and the other says, “Yes, and the portions are so small.” This neatly sums up IPO bankers’ first half: markets are challenging and they are working harder to sell smaller deals for less fee income. Bankers’ complaints about difficult deals are likely to be followed by grumbling that they don’t have enough of them. read

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Built on shaky ground

XCMG Construction Machinery is due to start investor education today for a proposed US$1.5 billion Hong Kong IPO. If it proceeds it will be the first listing greater than US$1 billion to test Hong Kong public sentiment since the US sovereign ratings downgrade sent global markets into a major wobble. This is a large offer arriving amid conditions generously described as lukewarm.

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