Crazy rich Asian (primary markets)
For all the talk of a deluge of tech IPOs soon hitting the Asian (and especially Hong Kong) markets, the performance of new listings and investor appetite there both remain decidedly subdued. read
Tag: India
He who pays the piper calls the tune
Or so the saying goes. Not in China, it seems. read
Asian IPOs go binary
2014 has come and gone, with a fairly honourable tally for Asia’s busy ECM desks. According to Dealogic, last year’s ECM volume on Asia ex-Japan exchanges, and excluding China’s A-share markets, was just under US$135 billion, more than in each of 2013 and 2012. read
Indian GDRs no longer make a splash
The ice bucket challenge has been all the rage on social media recently, but Indian GDR issuers have been taking a cold shower for quite a while 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
Citi draws (some) curtains in India with HDFC sale
HONG KONG (Dow Jones Banking Intelligence) – Citigroup Inc.’s sale of its remaining stake in Housing Development Finance Corp (HDFC) comes as no surprise amid rising markets combined with a pressing need to find extra capital. Other Western firms have already been there in China over the last couple of years. Meanwhile Asian houses are seizing the opportunity to grow, on the back of their Western peers’ renewed asset dumps. read
Stock repurchases not the best way to use capital
The past few weeks have seen widespread announcements of share buy-backs, as companies, often with net cash balances, take advantage of a depressed market to pick up cheap stock.
HKEx to admit issuers from more jurisdictions
HKEx released on 11 January 2011 details for the second year of its 2010-2012 strategic plan. This includes, among other things, plans to allow issuers from more countries to list in Hong Kong. India and South Africa are specifically mentioned. read
Asian ECM globalization crosses (small) milestone
HONG KONG (Dow Jones Investment Banker) – Asian equity issues have recently seen explosive growth but, in some countries, few foreign investors can buy shares in a domestic listing. The successful sale of a Taiwanese IPO to foreign investors last week is another step in the right direction.