The Times says there has been a tsunami of listings in Hong Kong, and notes AIA Group's almost US$20 billion initial public offering. Italian fashion house Prada is mulling an IPO in Hong Kong next year, which would make it the first global luxury brand to list in the city. The company is attracted to Hong Kong because individual investors are more active in Asia.
According to the Times, foreign companies list in Hong Kong because of the prospect of selling shares at higher prices than could be achieved elsewhere.
Citing data from Dealogic, the Times says that about 53 companies have raised a total of US$23.9 billion from IPOs in Hong Kong this year, eclipsing the $10.7 billion raised in New York and $7 billion in London.
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