HK exchange unveils features of IPO sponsor regime
The Stock Exchange of Hong Kong (SEHK) recently unveiled additional details of its new IPO sponsor regime, following the publication of consultation conclusions by the SFC on 12 December 2012. read
Tag: WPIP
Trigiant’s IPO call may not connect
HONG KONG (Dow Jones Investment Banker) – Trigiant Group Ltd. has just filed a web proof information pack (WPIP) with the Stock Exchange of Hong Kong, the first step towards its proposed IPO. Little information has filtered about the structure of the deal, but a quick round up of ECM desks indicates that the mandate wasn’t competitive. Despite a limited trading history, the company has posted impressive growth rates and enjoys significant market share in an industry it dominates alongside two major competitors. At the same time, its reliance on a small number of clients and suppliers, and its high gearing, raise questions about the sustainability of its business model, as do some troubling past financial practices.