As previously reported on this website in January 2011, the Stock Exchange of Hong Kong is expanding the list of jurisdictions it recognizes to admit international companies to listing in the SAR. The latest jurisdiction to be recognized is France. read
HONG KONG (Dow Jones Investment Banker) – The large-scale trading simulation this week of offshore yuan-denominated securities in Hong Kong lays the groundwork for a market that could soak up the mountains of Chinese currency that cannot be repatriated easily to the mainland. It also looks very much like a dress rehearsal for Cheung Kong (Holdings) Ltd.’s long-awaited IPO and listing of a US$1 billion equivalent, yuan-denominated REIT in Hong Kong.
“IPO: A Global Guide” will be formally published on 15 April.
Details for the launch are set out below.
HONG KONG (Dow Jones Investment Banker) – What a difference a year makes. In 2010, there was a bumper harvest for new equity issues. That’s not so in Asia this year.
On 18 March 2011, I wrote a column which was published in the “Features & Analysis” section of the website of BBC News. The topic was the Stock Exchange of Hong Kong’s simulation exercise for the trading of renminbi-denominated securities and their development.
To read the article, please click HERE.
Dealogic has just issued a set of interesting statistics following the completion of Hutchison Port Holdings (HPH) Trust’s US$5.45 billion business trust IPO in Singapore. That deal, which was the fifth largest IPO in the transportation sector globally on record, as well as the biggest-ever Singapore IPO, has pushed the global IPO volume in 2011 to US$40 billion, up 42% as compared to the same period in 2010. This also represents the highest year-to-date (YTD) volume on record. read
HONG KONG (Dow Jones Investment Banker) – As the Stock Exchange of Hong Kong finally opens its capital markets to allow listings by companies incorporated in no fewer than 15 jurisdictions, investment banks are actively scouting both the old and new worlds to identify candidates for IPOs there. Not all will fit the bill, and a significant presence in Asia will generally be a prerequisite. Secretive fashion group Agnès B, from France, could tick most boxes.
HONG KONG (Dow Jones Investment Banker) – The US$500 million-plus privatization of national carrier PT Garuda Indonesia last month is widely thought to have been rushed and significantly overpriced, and some of the domestic underwriters reportedly may now need to raise capital to cover their losses. The sorry episode brings to light the practice of firm commitment underwriting of IPOs in some jurisdictions in Asia, and shows it actually does little for corporates, their shareholders and investors, let alone the brokerages involved.
● To order the book in Euros on amazon.fr, click HERE.
● To order the book in British Pounds on amazon.co.uk, click HERE.
● To order the book in British Pounds on eurospanbookstore.com, click HERE.
● To order the book in Japanese Yen on amazon.co.jp, click HERE.
Hyperlinks to pre-order the book on other global and regional online sales platforms will be posted on this website soon.
HONG KONG (Dow Jones Investment Banker) – As chatter increases, Glencore International AG remains tight-lipped about its IPO plans. Some of what has filtered over the last few days, however, offers a clue as to what its US$10 billion to US$15 billion offering and dual listing might look like, and suggests it could come next month, just before the Easter break.
