After jointly authoring with Syren Johnstone the study manual for the IPO sponsor examinations in Hong Kong earlier this year (published by the Hong Kong Securities and Investment Institute in September – and in October for the Chinese version), I have just signed a publishing contract with a major academic, scholarship and business publisher based in the UK (but with offices world-wide) for my new book, which should be out in the summer of 2014. read
I was back in RTHK 3’s Admiralty studio this morning for a live radio interview in the “Money for Nothing” programme, hosted by anchor Bryan Curtis. read
“More relevant template from Malaysia”
I am the author of IPO: A Global Guide and refer to Enoch Yiu’s White Collar column (“Fresh reminder of need to end muddle over HKEx roles”, October 1). She said “London and Singapore have long ago brought in independent regulators to be involved in the listing approval process for companies undergoing IPOs”. read
Global IPO volume stood at US$99.1 billion (587 deals) in the first nine months of 2013, up 12% on the same 2012 period (US$88.2 billion) and the highest first nine months since 2011 (US$142.7 billion). [Statistics and some of the commentaries from Dealogic]
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
Michael Flaherty and Elzio Barreto published on Reuters today an account of what apparently really went on behind the scenes at a meeting of the underwriters for the US$1.3 billion IPO of Huishan Dairy, Hong Kong’s second largest flotation so far this year. read
A sponsor firm and its management are responsible for ensuring that staff undertaking sponsor work as Principals and Representatives are licensed and meet the sponsor guidelines. Under the new IPO sponsor regime coming into force on 1 October 2013, there are now three distinct routes through which staff working as Principals on IPO transactions where their firm has been appointed in the role of sponsor can be licensed. read
The Stock Exchange of Hong Kong (SEHK) recently unveiled additional details of its new IPO sponsor regime, following the publication of consultation conclusions by the SFC on 12 December 2012. read
The last few days have seen much written about the proposed sale of Park n Shop by Li Ka-shing’s Hutchison Whampoa. But the idea of selling off one of its lower margin businesses is not new: I had already flagged this in a January 2011 column, published in Dow Jones Investment Banker and on WSJ.com, the website of the Wall Street Journal. read
Bloomberg published this morning an interesting article on Chinese State-owned enterprises replacing tycoons and institutions as cornerstone investors in the nation’s IPOs. read
