Wave of IPOs on Asian markets Despite the global economic and financial crisis, the high volatility of the markets and the worsening debt crisis in Europe, the Asian IPO (Initial Public Offering) machine is running full steam ahead.
In the coming weeks, a large group of companies with a total value of 11 billion dollars (7,8 billion euros) are ready to make their debut. In Hong Kong alone, five companies (an investment firm, two manufacturing companies, a shoe retailer and a restaurant chain) with a total value of 7,4 billion dollars will enter the stock market.
Rupert Mitchell, head of Asian equity at Citigroup, who underwrites three of the five deals, warns anyone interested in stock market baptism these days: “This is no longer the kind of market where you can strike any kind of deal. We're a long way from October 2010,” referring to a time when $41 billion IPOs hit the market. “This – he concludes – will be an era characterized by reasonable prices”.
http://www.theaustralian.com.au/business/markets/manchester-united-sany-xcmg-citic-securities-hongguo-line-up-for-ipo-parade/story-e6frg91o-1226131251497
