With Just One IPO Done, Hong Kong Sees Its Worst May In a Decade

Author of the article: Bloomberg News Filipe Pacheco (Bloomberg) — Only one company sold shares for the first time in Hong Kong this month, with proceeds raised marking the lowest for IPOs in May in 10 years. A Chinese company that offers diagnostic services including Covid-19 tests was the only firm executing an initial public…
With Just One IPO Done, Hong Kong Sees Its Worst May In a Decade

Author of the article:

Bloomberg News

Filipe Pacheco

(Bloomberg) — Only one company sold shares for the first time in Hong Kong this month, with proceeds raised marking the lowest for IPOs in May in 10 years.

A Chinese company that offers diagnostic services including Covid-19 tests was the only firm executing an initial public offering during the month in the Asian financial hub — Yunkang Group Ltd.’s deal raised $139 million about two weeks ago. The amount is less than 10% of the proceeds garnered by companies in mainland China and about 3% of the tally in India.

READ: Richard Li-Backed Insurer FWD Is Said to Postpone Hong Kong IPO

To be sure, the IPO market globally has been hurt by factors ranging from high volatility in equities trading since Russia’s invasion of Ukraine, rising inflation and hawkish central banks. Still, as sharp swings subside, activity is trickling back to Hong Kong’s exchange. 

Vision Deal HK Acquisition Corp., a blank-check firm, is taking orders until Thursday in an offering set to raise $128 million. TI Cloud Inc., a Chinese cloud-native customer solutions provider, is planning to open books as soon as next week for an IPO that could raise about $100 million. Growatt, a Chinese smart energy solutions company, could raise up to $500 million in an offering that could happen as soon as this year. 

©2022 Bloomberg L.P.

Bloomberg.com

Financial Post Top Stories

Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.

By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300

Read More

Total
0
Shares
Leave a Reply

Your email address will not be published.

Related Posts
The Great European Energy Market Bailout Is Only Getting Started
Read More

The Great European Energy Market Bailout Is Only Getting Started

Three decades ago, Europe decided to open up its energy markets to foster competition, a move meant to bring lower prices for consumers across the continent. Author of the article: Bloomberg News Isis Almeida, Vanessa Dezem and Francois de Beaupuy o]s0z68fpqee7f}ve5b6ffos_media_dl_1.png Bloomberg RSS (Bloomberg) — Three decades ago, Europe decided to open up its energy…
Germany to close airspace to Russian airplanes
Read More

Germany to close airspace to Russian airplanes

This advertisement has not loaded yet, but your article continues below. Author of the article: Article content BERLIN — Germany’s transport minister is in favor of closing Germany’s airspace to Russian airplanes and has ordered that all necessary measures be put in place, the transport minstry said in a Tweet. (Reporting by Riham Alkousaa, editing…
Lagarde Prepares for ECB Liftoff With Yet More Record Inflation
Read More

Lagarde Prepares for ECB Liftoff With Yet More Record Inflation

Author of the article: Bloomberg News Alessandra Migliaccio (Bloomberg) — Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast The European Central Bank’s debate over how aggressively to tighten monetary policy is likely to intensify this week in the prelude to a pre-decision blackout period as data probably show a new record…
Toronto’s March home prices dip as supply ramps up
Read More

Toronto’s March home prices dip as supply ramps up

Author of the article: The average selling price of a home in the Greater Toronto Area inched down in March from the prior month, bucking the usual spring trend, as new listings continued to pick up steam, the Toronto Regional Real Estate Board (TRREB) said on Tuesday. The average price of a resale home slipped…