Tag: Primary offerings

Strengthening Big C’s institutional book?

HONG KONG (Dow Jones Banking Intelligence) – Thailand’s Big C Supercenter PCL is planning to raise capital through the issue of new shares in a fairly modest private placement. Following the recent successful IPO of Tesco Lotus Retail Growth Freehold & Leasehold Property Fund, controlled by Tesco plc’s Thai unit, it should instead increase its free float through a larger, fully marketed offering, including a combination of new and old shares. read

, , , , Market conditions, Primary offerings, Private placement... +2 more

Sunshine Oilsands’ IPO breaks new ground

HONG KONG (Dow Jones Banking Intelligence) – Selling shares in renowned branded product companies to Asian investors is one thing. But the IPO of Canadian energy firm Sunshine Oilsands Ltd on the Stock Exchange of Hong Kong will break new ground. Sunshine Oilsand’s assets are primarily in North America – 465,000 hectares of oil sands leases in the Athabasca region, in northern Alberta, Canada – with reserves and resources (as of July 1, 2011) totaling 45.4 billion barrels of best estimates petroleum initially in place. read

, , , Canada, China, Hong Kong... +1 more

Sunshine Oilsands battles Hong Kong’s quicksands

A proposed US$500 to US$700 million initial public offering by Sunshine Oilsands is bearing down on Hong Kong investors, which would make it the largest IPO globally so far in 2012. The roadshow is set to start today (February 6) and pricing is slated for February 14. The company is based in Calgary, Canada. Just what is it doing tapping Hong Kong investors for funds?


, , , Canada, Hong Kong, Primary offerings... +1 more

The year in IPOs foretold

A Happy New Year to all! Set out below is a piece I wrote in today’s South China Morning Post in Hong Kong, looking at the year that was and at prospects for IPOs in the city.

Last year was difficult for Hong Kong initial public offerings. True, about US$32 billion was raised from 69 flotations as of December 15, according to the Hong Kong Exchange (thereby enabling the city to retain its global crown for IPO fund-raising, ahead of Shenzhen and New York), but last year was also notable for the below-par performance of most new issues – with many down by 20 per cent or more from their offer prices. read

, , , , , , Business trusts, China, Hong Kong... +4 more

Haitong Securities tries to steal the limelight

HONG KONG (Dow Jones Investment Banker) – Shanghai-based Haitong Securities Co., Ltd. started bookbuilding Thursday for its Hong Kong IPO and listing, which could raise up to US$1.7 billion in a primary offering, excluding a 15% over-allotment option. The broker will no doubt aim to replicate October’s successful flotation of rival CITIC Securities Co. Ltd., whose stock is currently trading 4.7% above its initial offer price. But with weaker institutional support, Haitong’s IPO could face an uphill struggle in these choppy waters: The company has a smaller platform, lower market share in securities underwriting and a higher cost base than CITIC. read

, , , , , China, Cornerstones, Dual listings... +3 more

Sitoy – heading for the trick bag?

HONG KONG (Dow Jones Investment Banker) – Luxury handbags and small leather goods outsourced manufacturer Sitoy Group Holdings Ltd. started bookbuilding Monday for a US$125 million, all-primary IPO in Hong Kong through sole bookrunner Bank of AmericaMerrill Lynch, with pricing set for November 29. The company looks attractive, and pricing appears reasonable. Shame about the timing. read

, , China, Hong Kong, Primary offerings

Will Brunei’s DST answer the call to float?

HONG KONG (Dow Jones Investment Banker) – As one of Asia’s richest nations, the Sultanate of Brunei Darussalam relies on a significant expatriate population for the production of offshore oil. That, in turn, has fuelled the growth of its major mobile telecommunications provider, Data Stream Technologies Communications (DST). But with penetration rates near saturation, DST needs to re-invent itself and offer value-added products and services besides roaming. With equity markets in turmoil, it could consider issuing an Islamic going-public convertible bond prior to a listing in Kuala Lumpur – or in Singapore, perhaps through a business trust. read

, , , , Brunei, Pitches, Primary offerings... +2 more