The number of listings in Hong Kong in 2011 is expected to outnumber the 95 initial public offerings (IPO) so far this year, with heavyweight listings to begin after the holiday season, reports the South China Morning Post, citing Ernst & Young.
The Post says Kee Zipper could become the first company to be listed in 2011. At least five companies plan to list in Hong Kong soon, with total proceeds likely to top US$334 million (HK$2.6 billion), says the Post. Some of the big names that are expected to list include Inner Mongolia Yitai Coal, aluminium hydroxide maker Hong Qiao and China Shouguang Agricultural Product Logistic Park, an agricultural product trading centre.
But the scale of IPOs this year is unlikely to be surpassed in 2011. "It's very unlikely that Hong Kong will see in 2011 IPOs as big as that of Agriculture Bank of China or AIA," Kenneth Poon, head of capital market origination at Citi, told the Post.
Citing the Hong Kong stock exchange, the Post says Hong Kong IPOs had raised more than US$53 billion (HK$412 billion) as of December 15--the highest tally globally this year.
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