Do Hong Kong’s long-suffering investors in initial public offerings finally have something to look forward to? The jumbo listing of Dr Cheng Yu-tung’s jewellery retail empire has been widely flagged and heavily anticipated. read
Given the shabby state of markets, you might think that bankers would be wary of pitting two giant mainland firms from the same niche sector in head-to-head IPOs. But that is exactly what is going on with the duelling listings of Sany Heavy Industry and XCMG. Both are construction machinery makers looking to raise billions in a Hong Kong listing. Never mind that interest for one deal will likely cannibalise demand for the other, the floats are on a near identical timetable.
HONG KONG (Dow Jones Investment Banker) – The IPO of China Outfitters Holdings Ltd. that is currently in the market in Hong Kong is a welcome change from the over-priced, billion-dollar deals that have recently made headlines, and is exactly the sort of offering bankers and investors alike should be looking at.
I was interviewed live on 16 June on Bloomberg Television by London-based anchor Linzie Janis, on the trading debut for Samsonite, following its IPO in Hong Kong. I was separately interviewed for an article on the same subject, written by Bloomberg reporter Fox Hu, which also touched on prospects for the pricing of Prada’s IPO, also in Hong Kong. read
I was interviewed by Deputy Editor Jasper Moiseiwitsch in the South China Morning Post‘s “Money Post” supplement on 13 June. The article was introduced as “Confessions of an IPO banker” on the cover of the supplement, and the title was “In deal search, simplicity counts”.
Click below to see the interview, which is reproduced with permission.
The Prada growth story is intuitively understood by Hong Kong shoppers. Anyone who has seen the queues at their stylish boutiques has a sense of the profitability and potential of this fashion and luxury goods vendor. read
