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Tag: Valuation

Huishan Dairy lists in Hong Kong

I was interviewed by BBC News again, this time about the IPO of China Huishan Dairy Holdings, which at US$1.3 billion (pre Greenshoe) currently stands as the second largest IPO in Hong Kong in 2013, after that of Sinopec Engineering. The deal was also the largest consumer sector IPO in Asia since the flotation of Chow Tai Fook Jewellery (also in Hong Kong) in December 2011. read

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Bankers spin into high gear

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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PICC launches US$3.6 billion Hong Kong IPO

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

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Not what the doctor prescribed – but close enough

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

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