Hong Kong IPOs Pick Up Pace in Second Quarter
After a sleepy first quarter, Hong Kong’s market for initial public offerings is waking up.
As Dow Jones Newswires reports, there are at least two billion-dollar listings planned for this quarter, including Shanghai-listed Inner Mongolia Yitai Coal Co., which is aiming to raise US$1.5 billion and list in June. Another second-quarter listing is Fuxin New Energy, which is planning to raise $1 billion. Fuxin operates solar and wind power projects in China, and is a unit of state-owned power producer China Huadian Corp.
Separately, Shanghai Fosun Pharmaceutical (Group) Co., a unit of conglomerate Fosun International Ltd., has received regulatory approval in Hong Kong for its up to $800 million IPO, though it has yet to determine when it will list.
The company makes hepatic disease, diabetes and anti-infectious drugs, said proceeds from the listing would go to buy drug companies overseas, according to a person familiar with the situation.
In the first quarter of the year, Hong Kong raised just $2.09 billion via 20 listings, compared to $7.16 billion from 26 companies the year before, according to Dealogic. However, Haitong Securities Co., which raised $1.68 billion, will be the world’s biggest IPO this year when it lists in Hong Kong.
As Dow Jones Newswires reports, there are at least two billion-dollar listings planned for this quarter, including Shanghai-listed Inner Mongolia Yitai Coal Co., which is aiming to raise US$1.5 billion and list in June. Another second-quarter listing is Fuxin New Energy, which is planning to raise $1 billion. Fuxin operates solar and wind power projects in China, and is a unit of state-owned power producer China Huadian Corp.
Separately, Shanghai Fosun Pharmaceutical (Group) Co., a unit of conglomerate Fosun International Ltd., has received regulatory approval in Hong Kong for its up to $800 million IPO, though it has yet to determine when it will list.
The company makes hepatic disease, diabetes and anti-infectious drugs, said proceeds from the listing would go to buy drug companies overseas, according to a person familiar with the situation.
In the first quarter of the year, Hong Kong raised just $2.09 billion via 20 listings, compared to $7.16 billion from 26 companies the year before, according to Dealogic. However, Haitong Securities Co., which raised $1.68 billion, will be the world’s biggest IPO this year when it lists in Hong Kong.
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