Tuesday, September 2, 2014   




Local listing boom tipped to continue

Ling Wang

Tuesday, April 01, 2014

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Hong Kong's initial public offering market is expected to retain momentum for the rest of the year even as a stricter disclosure regime comes into effect from today.

Henan-based pork producer WH Group is preparing to raise up to HK$46.8 billion on April 29 - probably the biggest IPO this year.

Qingdao Port Group, operator of China's biggest port for crude oil and iron-ore imports, is expected to receive the local stock exchange's approval next month and is set to list in the second quarter, targeting about HK$3.9 billion.

In the second half, China Guangfa Bank, partly owned by Citigroup, plans to list, aiming to raise about HK$15.6 billion.

The Guangzhou-based lender was formerly known as Guangdong Development Bank.

Moreover, three undergarment manufacturers are planning to raise about a combined HK$3.9 billion. Dongguan-based lingerie maker Cosmo Lady is preparing to raise about HK$1.56 billion within this quarter.

Best Pacific Textile, an underwear maker also based in Dongguan, plans to raise HK$780 million by June.

Lastly, Shenzhen-based Regina Miracle International, a mainland supplier of bras for Victoria's Secret, may launch a HK$1.56 billion IPO early next year.

Separately, Franshion Properties (China) (0817) said yesterday that the proposal to spinoff its hotel business on the main board has been approved. It will be listed as share stapled units.

A total of 23 firms have listed on the local bourse year - 18 on the main board and five on the growth enterprise market. In the latest action, Harbin Bank (6138) closed at HK$2.91 on its trading debut yesterday, 0.34 percent higher than the offer price of HK$2.90, generating a paper gain of HK$10 for one board lot of 1,000 shares.

Last month, the exchange accepted 22 new applications, with 15 companies applying to list on the main board and seven on the GEM board.


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