HKEx released on 11 January 2011 details for the second year of its 2010-2012 strategic plan. This includes, among other things, plans to allow issuers from more countries to list in Hong Kong. India and South Africa are specifically mentioned. read
For years, depositary banks such as The Bank of New York Mellon, Citi, JP Morgan, Deutsche Bank or HSBC have tried to keep secret details of the subsidies they pay to issuers to entice them to sign up for sponsored ADR programmes. Disclosure rules introduced by the SEC in 2009 have now revealed details of such payments for the first time. read
HONG KONG (Dow Jones Investment Banker) -Bursa Malaysia’s new rules are hardly game changing, but should be seen against the background of other positive developments in Malaysia’s capital markets.
HONG KONG (Dow Jones Investment Banker)–Hutchison Whampoa Ltd.’s retail division, one part of a sprawling conglomerate, is itself a mix of heterogeneous businesses. The best way to maximize its value would be to recognize that diversity with a partial float of its most attractive sub-segment, the Watsons health, beauty and pharmacy chain in Hong Kong and in the rest of Asia.
HONG KONG (Dow Jones Investment Banker) – Singapore Exchange Ltd (SGX), dwarfed by a number of its Asian rivals, is sparing no efforts to compete on a regional stage. But its introduction of remote trading is likely to have only a marginal impact.
[This article was originally published on Dow Jones Investment Banker on 23 December 2010 and is reproduced with permission]
HONG KONG (Dow Jones Investment Banker) – Hong Kong’s Real Estate Investment Trust market plays second fiddle to Singapore’s but that could change – if it’s managed properly – with a proposed IPO in the first half of 2011 by Cheung Kong Holdings Ltd. read
HONG KONG (Dow Jones Investment Banker) – Asian equity issues have recently seen explosive growth but, in some countries, few foreign investors can buy shares in a domestic listing. The successful sale of a Taiwanese IPO to foreign investors last week is another step in the right direction.
HONG KONG (Dow Jones Investment Banker) – Cornerstone investments have remained a common component of IPOs in Hong Kong in 2010 and that is helping fuel an argument around just how fair they are.
For investment banks, the involvement of cornerstone investors provides leadership and momentum, sending a strong signal to the market that the deal constitutes a worthwhile investment. The reality is also that, in a volatile trading environment, they make possible the launch of more challenging transactions. read
