In Asia, cornerstone investors are regarded as a vital ingredient for successful major listings. And Hong Kong – where such investors are subject to lock-up restrictions – has also increasingly seen the advent of anchor investors. read
Shanghai Fosun Pharmaceutical last week pushed back the launch of its US$600 million Hong Kong initial public offering from 11 October to, most likely, 15 October – possibly putting it on track for an accelerated marketing timetable. (See my prior column in Money Post on 30 April). read
Shanghai Fosun Pharmaceutical has secured a green light from both the China Securities Regulatory Commission and the authorities in Hong Kong for its long-awaited initial public offering on HKEx, which means that launch could start soon. read
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
HONG KONG (Dow Jones Investment Banker) – Forget the theory about pre-deal investor education (PDIE) and the price discovery process. In these volatile markets what really matters is to initiate book building only when a deal has effectively already been covered. Here’s why – and how. read
