HONG KONG (Dow Jones Investment Banker) – Amid particularly choppy primary equity markets, Beijing Jingneng Clean Energy Co., Ltd. is attempting to raise up to US$630 million in an IPO in Hong Kong; to succeed, the deal may need to be cut back.
HONG KONG (Dow Jones Investment Banker) – The IPO of China Outfitters Holdings Ltd. that is currently in the market in Hong Kong is a welcome change from the over-priced, billion-dollar deals that have recently made headlines, and is exactly the sort of offering bankers and investors alike should be looking at.
HONG KONG (Dow Jones Investment Banker) – Xiangyu Dredging Holdings Ltd.’s IPO of up to US$105 million should be a pure play on public spending for transportation infrastructure in China. But while that sector is expected to grow significantly in coming years, and the financials are healthy, the structure of the market and the company’s small and relatively stagnant customer base raise issues with respect to the sustainability of its performance.
HONG KONG (Dow Jones Investment Banker) – The Royal Bank of Scotland’s and Citi’s announcements this week that they had joined the rather exclusive list of foreign banks trying to crack the booming market for underwriting in China merely points up the limited inroads made so far by most of the would-be entrants. If anything, the advantage tends to run increasingly in favor of domestic Chinese underwriters.
“IPO: A Global Guide” featured on 1 June in an article published in the China Economic Review on the subject of the liberalization of China’s financial system, and on the future of Hong Kong as a financial centre.
The following interview was aired today at 10:00am Hong Kong time on Reuters Television, as part of a news package on the proposed Shanghai International Board. read
HONG KONG (Dow Jones Investment Banker) – Naming and shaming hasn’t worked to prevent fraud by Chinese companies going public. After a string of cases on Mainland exchanges and internationally, where companies also reported sharply lower earnings within weeks of their IPOs, the China Securities Regulatory Commission (CSRC) is putting a new onus on lead underwriters to weed out less scrupulous sponsors and restore confidence in the markets. It’s a welcome move, albeit a little late.
HONG KONG (Dow Jones Investment Banker) – It would be a landmark: Chinese brokerage CITIC Securities Co. Ltd. has reportedly appointed Bank of China Ltd’s Bank of China International (BOCI), China Construction Bank (CCB) International and Industrial and Commercial Bank of China (ICBC) to lead its forthcoming share offering and listing in Hong Kong, said to be around US$2.5 billion.
I was interviewed on 9 May 2011 on Hong Kong’s RTHK 3 radio in the “Hong Kong Today” early morning show by business news presenter Nick Beacroft, on the subject of the proposed international board of the Shanghai Stock Stock Exchange. read
Chinese social networking site Renren is hoping to replicate the blowout success of another Chinese internet company, Qihoo 360 Technology, which sold US$176 million worth of shares in March on Nasdaq, the US technology stock market. read
