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08-11-2017, 03:28 PM
IPO Fever Hits Hong Kong Market as 1-in-20 People Try to Buy
By Richard Frost and Justina Lee
November 8, 2017, 12:14 PM GMT+8 Updated on November 8, 2017, 1:25 PM GMT+8
Hong Kong demand for new share sales has hit fever pitch, with 417,000 people applying for lots in Tencent Holdings Ltd.âs online bookstore unit -- more than 5 percent of the cityâs population.
China Literature Ltd.âs retail offering was 625 times oversubscribed, according to the company. That locked up at least HK$520 billion ($67 billion), or a third of the cityâs monetary base, the South China Morning Post reported. Itâs easy to see why the clamor: China Literatureâs shares surged as much as 100 percent on their Wednesday debut.
Interest in initial public offerings is so intense itâs affecting the cityâs interbank rates. The overnight Hibor fixing jumped 2.1 percentage points on Oct. 31, the most in a decade, as investors placed orders for China Literature.
More details in https://www.bloomberg.com/news/articles/...try-to-buy
By Richard Frost and Justina Lee
November 8, 2017, 12:14 PM GMT+8 Updated on November 8, 2017, 1:25 PM GMT+8
Hong Kong demand for new share sales has hit fever pitch, with 417,000 people applying for lots in Tencent Holdings Ltd.âs online bookstore unit -- more than 5 percent of the cityâs population.
China Literature Ltd.âs retail offering was 625 times oversubscribed, according to the company. That locked up at least HK$520 billion ($67 billion), or a third of the cityâs monetary base, the South China Morning Post reported. Itâs easy to see why the clamor: China Literatureâs shares surged as much as 100 percent on their Wednesday debut.
Interest in initial public offerings is so intense itâs affecting the cityâs interbank rates. The overnight Hibor fixing jumped 2.1 percentage points on Oct. 31, the most in a decade, as investors placed orders for China Literature.
More details in https://www.bloomberg.com/news/articles/...try-to-buy
Specuvestor: Asset - Business - Structure.
