Espinasse on Facebook’s IPO
I was interviewed by anchor Bernie Lo last weekend, on CNBC’s “Straight Talk” programme, on the subject of Facebook’s proposed IPO on NASDAQ. read
Tag: Hong Kong
Drums beat louder for the Graff Diamonds float
Bankers on May 7 started sounding fund managers on their interest for the long-awaited Graff Diamonds initial public offering. The process, known as pre-marketing or, more commonly these days, pre-deal investor education (PDIE), puts the highly anticipated US$1 billion (approximate) deal on track for a June 7 listing. read
As floats sink slowly in the East
There has been much talk of late about the decline of the Hong Kong market for initial public offerings. The volume of new listings is down. These days, deals that venture into marketing seem as likely to get pulled as to be priced. Most problematically, many IPOs that successfully close keep trading in the red. read
Attractive sector but valuation is anything but obvious
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
Hong Kong regulator to toughen IPO oversight
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.
Bloomberg and CNBC interviews
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
HK IPOs splutter back to life, not out of the woods yet
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
Hey occupiers! Get a job! Get a BlackBerry!
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
Want IPO excitement? Go to Southeast Asia
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
Financial Times article
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