Hong Kong Sees 20 IPOs From Mainland by Dec. 31

Although listings of mainland Chinese fell this year in the Hong Kong market, it is expected that as many as 20 companies are planning initial public offerings. Business Week reports:

While about 110 companies are seeking approval to list their shares and about 40 have permission to go ahead, between 10 and 20 firms, mostly from the mainland, are likely to complete by Dec. 31, said Lawrence Fok, chief marketing officer for the Hong Kong Exchange and Clearing Ltd. Hong Kong’s benchmark measure for mainland companies climbed more than 10 percent last week while the China-US 55 Index of Chinese in the U.S. rose 6.5 percent.

“Even if more and more state-owned enterprises are listing on our exchange, the next big wave will be the private enterprises,” Fok said in an interview Dec. 2 in . “Some very successful private enterprises, especially in the consumer business, are looking to tap the market.”

Some companies are in a rush to catch “the last train” in 2011 for IPOs even amid “poor” market conditions on concern that 2012 might be worse, Francis Lun, managing director at Lyncean Holdings Ltd. in Hong Kong said in an interview with Bloomberg Television Nov. 29. “If you get the money now, you can do a lot of things. You can buy distressed assets, for example.”

Open popup
X

Welcome back!

CDT is a non-profit media site, and we need your support. Your contribution will help us provide more translations, breaking news, and other content you love.