Year: 2012
30 April 2012
HONG KONG (Dow Jones Banking Intelligence) – Hong Kong’s securities watchdog, the Securities and Futures Commission (SFC), is understood to be about to issue a new consultation paper, in which it will propose tougher due diligence requirements – as well as harsher sanctions for IPO sponsors that fail to follow them. This is likely to face opposition on the part of the securities industry, although since banker-bashing remains in fashion, the new rules should ultimately see the light of day.
read
Auditors, China, Due diligence, Hong Kong, Sponsors
Auditors, China, Due diligence... +2 more
27 April 2012
I was interviewed by Bernie Lo and Emily Chan at CNBC and Rishaad Salamat at Bloomberg TV today on Haitong Securities’ IPO debut in Hong Kong. After an initial jump of 0.75%, the shares soon started to trade below the offer price. read
Events, Hong Kong
Events, Hong Kong
23 April 2012
Bookbuilding closed late last week for the re-launched initial public offering of Haitong Securities, the mainland’s third-largest broker by revenue, bringing welcome activity to a lacklustre Hong Kong new issue market. read
Anchor investors, China, Cornerstones, Hong Kong, Market conditions
Anchor investors, China, Cornerstones... +2 more
16 April 2012
Banker bashing is in fashion. After all, the excesses and collapses of Bear Stearns, Lehman Brothers and RBS crystallised the sub-prime crisis in the United States and Britain. And blaming well-paid, banking executives for the woes of a long-suffering majority with “real jobs” is a message that resonates well with voters, especially in an election year. read
Execution, Hong Kong, Pitches, US
Execution, Hong Kong, Pitches... +1 more
10 April 2012
HONG KONG (Dow Jones Banking Intelligence) – Thailand’s Big C Supercenter PCL is planning to raise capital through the issue of new shares in a fairly modest private placement. Following the recent successful IPO of Tesco Lotus Retail Growth Freehold & Leasehold Property Fund, controlled by Tesco plc’s Thai unit, it should instead increase its free float through a larger, fully marketed offering, including a combination of new and old shares. read
Market conditions, Primary offerings, Private placement, Secondary offerings, Thailand
Market conditions, Primary offerings, Private placement... +2 more
09 April 2012
The Hong Kong market for initial public offerings is as dull and dank as swamp water. Some deals have even been pulled, which means the line of listing applicants just gets longer. read
Hong Kong, Malaysia, Singapore, Thailand
Hong Kong, Malaysia, Singapore... +1 more
03 April 2012
I was quoted in an article in the Financial Times by Paul J. Davies, Robert Cookson and Sarah Mishkin entitled “Investors hang fire over Asia’s IPO pipeline”, on 2 April 2012. read
China, Hong Kong, India, IPO pipeline, Malaysia, Singapore
China, Hong Kong, India... +3 more
02 April 2012
I was interviewed this morning again on RTHK 3’s early morning radio programme “Hong Kong Today” by Andrew Wood on the subject of IPOs. read
Events, Hong Kong
Events, Hong Kong
19 March 2012
HONG KONG (Dow Jones Banking Intelligence) – Despite a significant pipeline of deals, at this stage in the year ECM transactions in Asia remain very much characterized by binary outcomes. Large, eye- catching offerings generate significant amounts of investor demand, while less obvious – and perhaps more challenging – transactions (when they close) have posted poor returns for investors. read
China, Dual listings, Hong Kong, Offer structure, Singapore, Thailand, Valuation
China, Dual listings, Hong Kong... +4 more
19 March 2012
League tables feature prominently in presentations drafted by investment banks for their corporate clients, as well as in the financial press. They provide readers with an indication of their market shares and rankings relative to those of other houses, and for a given region, country, industry sector, product – or a combination of the above. read
League tables, Pitches
League tables, Pitches
