The number of companies joining the rush to launch share offerings in Hong Kong has risen to more than 12 companies, a sign that the region's IPO market is vibrant again, reports the South China Morning Post.
Companies that have launched share offerings include Xinjiang Goldwind Science & Technology, China Suntien Green Energy Corp., and Kosmopolito Hotels International. Citing brokers, the Post notes that some offerings have not been successful in attracting investors because there were just too many IPOs to choose from.
"Even if there are 30 new companies waiting to be listed, we are not worried. We know we have a good offering," Hotel developer and operator Kosmopolito Hotels International chairman David Chiu Tat-cheung told the Post. "We have had good response so far from investors during our roadshows in London and Singapore." The hotel aims to raise HK$1.49 billion (US$154 million) to finance new developments.
MORE ARTICLES ON IPO