PICC Group will finally kick off bookbuilding tomorrow, Thursday 22 November, for an IPO that could reach US$3.6 billion, and even top US$4 billion, assuming exercise in full of the over-allotment option. This would make it the largest IPO so far this year in Asia ex-Japan, ahead of the flotation of Felda Global Ventures in Malaysia. read
People’s Insurance Company (Group) of China, otherwise known as PICC, is set to hit the market in Hong Kong this month in what could potentially make it the largest IPO in Asia (excluding Japan) this year. read
I was interviewed this morning by anchors Bernie Lo and Emily Chan on CNBC’s programme “The Call” on the IPO trading debut for Shanghai Fosun Pharmaceutical in Hong Kong. read
Last week, I wrote about the delay in the launch of Shanghai Fosun Pharmaceutical’s long awaited equity offering in Hong Kong. As was expected at the time, bookbuilding finally started on October 16 for what is an accelerated timetable (on account of the upcoming bank holiday) that will now see pricing on October 24, and listing and start of trading on October 30. read
I was invited on Bloomberg Television again this morning for a live interview on Astro Malaysia’s IPO debut in Kuala Lumpur – and on Asian IPOs generally – with anchor Rishaad Salamat in the “On The Move Asia” show. 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
Milk maker Liaoning Huishan Holdings, also known as Huishan Dairy, has reportedly invited investment banks to submit proposals to lead a Hong Kong initial public offering projected at a size of up to US$1 billion. read
The simplified Chinese character edition of “IPO: A Global Guide” for the mainland market will go to print this coming week end – and should be available for sale towards the end of the week starting 27 August 2012.
Amid an 85% year-on-year decline in global IPO volumes, clean energy firm Huadian Fuxin is set to price an initial public offering of up to US$389 million equivalent (including a 15% over-allotment option) on June 20. As a concession to current volatility, the deal was cut from an original US$1 billion. read
Inner Mongolia Yitai Coal (which is quite a bit of a mouthful) has started investor education for its IPO of up to US$1.5 billion equivalent in Hong Kong. If successful, it would become the first B-share entity to list there. read
