Tibet 5100’s IPO holds water
HONG KONG (Dow Jones Investment Banker) – Tibet 5100 Water Resources Holdings Ltd is attempting to raise up to US$206 million in an IPO in Hong Kong. Although formally incorporated in the Cayman Islands as a red chip, if successful, it would be the first company from Tibet to list on the exchange there. The deal is small, but the growth rates posted by the company are impressive, as is its handle on costs, even if it remains very dependent at this stage on its cooperation with a rail transport operator.