IPOs - All articles

  • Magnum IPO: did you feel lucky?

    As expected, it hasn’t all been plain sailing for Asian IPOs so far in 2015. Macro events, chiefly in Greece and the Middle East, have taken their toll on regional issuance, as have increasing worries about China’s property sector. Even the mighty Alibaba hasn’t been immune to the doom and gloom, its share price in free-fall over a regulatory enquiry, writes Philippe Espinasse.

    • 30 Jan 2015
  • Guolian Securities targets first half IPO in Hong Kong

    Chinese brokerage firm Guolian Securities is eyeing a Hong Kong listing during the first half of this year in a deal led by ABC International and BOCOM International.

    • 29 Jan 2015
  • China inches closer to Reit market launch but doubts linger

    A long-stalled proposal to allow real estate investment trusts (Reits) in China re-emerged this week. The plan, slated for the first half of this year, is expected to help de-gear the balance sheets of Chinese homebuilders and tide them over a possible liquidity crunch. But as the plan has been on ice for a decade, questions abound as to its effectiveness — and whether it will find willing buyers and sellers, writes John Loh.

    • 29 Jan 2015
  • Chemara fails to win regulator’s nod for $180m Spac

    Malaysia’s regulator has shot down a bid by Chemara Palmea Holdings to list as a special purpose acquisition company (Spac), dashing for now its hopes of becoming Asia’s first plantation-based Spac.

    • 29 Jan 2015
  • Jasmine to take orders from institutions next week

    Jasmine Broadband Internet Infrastructure Fund, a spin-off from Thailand’s Jasmine International Public Co, will start bookbuilding for institutional investors on its Bt36.67bn-Bt38.50bn ($1.12bn-$1.17bn) IPO on February 4. The retail tranche opened on Wednesday.

    • 28 Jan 2015
  • 3SBio eyes comeback listing in Hong Kong this year

    Chinese biotech company 3SBio, which was listed on the Nasdaq, is making a return to the equity capital markets, this time with a listing in Hong Kong.

    • 27 Jan 2015
  • Back to the drawing board for Chemara’s $182m Spac

    Malaysia’s regulator is understood to have turned down a bid by Chemara Palmea Holdings to list as a special purpose acquisition company (Spac), dashing for now its hopes of becoming Asia’s first plantation-based Spac.

    • 27 Jan 2015
  • Shanghai Haohai plans $200m IPO in second quarter

    Shanghai Haohai Biological Technology is scheduled to start investor education for its $200m IPO in Hong Kong after the Chinese New Year holidays.

    • 26 Jan 2015
  • India's Biocon to list research services unit

    India’s Biocon plans to spin off its drug research arm Syngene International via an offer for sale of secondary shares and is in the process of appointing bankers.

    • 26 Jan 2015
  • Red Star and Hikvision eye $1bn Hong Kong listings

    Red Star Macalline Group, an operator of furniture malls in China, has set its sights on a $1bn IPO in Hong Kong for the first half of the year, said bankers.

    • 23 Jan 2015
  • Guolian targets first half IPO in Hong Kong

    Chinese brokerage firm Guolian Securities is eyeing a Hong Kong listing during the first half of this year in a deal led by ABC International and BOCOM International.

    • 23 Jan 2015
  • Pakistan takes first steps in the Reit direction

    The Securities and Exchange Commission of Pakistan (SECP) has given its go-ahead to launch the country’s first real estate investment trust, with Arif Habib Dolmen Reit Management preparing an IPO for the second quarter of 2015. Interest is already strong and bankers are hoping Arif’s success will pave the way for more such listings to boost the Pakistan equity capital market.

    • 22 Jan 2015
  • Thailand set to blaze IPO trail in southeast Asia

    Thailand is shaping up to be one of southeast Asia’s busiest destinations for IPOs this year, with the pipeline of deals of above $100m building faster than in any of the country's peers in the region. A lot of the kudos for this goes to Thailand's Securities and Exchange Commission (SEC), which is actively working towards boosting the equity capital market by expediting the listing process for issuers, writes John Loh.

    • 22 Jan 2015
  • Legend eyes $3bn Hong Kong IPO in second half

    Lenovo owner Legend Holdings is looking to list in Hong Kong during the second half of 2015 in a $2bn-$3bn IPO, with its size and diversified business expected to drive investor interest.

    • 22 Jan 2015
  • Asian ECM news in brief, January 23, 2015

    India seeks NMDC divestment – PP Properti picks five for Indo IPO – Yello sends out RFP – HKBN to pre-market $600m listing in February

    • 22 Jan 2015
  • Zhouheiya Food cooks up $500m IPO

    Chinese snackfood maker Hubei Zhouheiya Food, backed by private equity firms Tiantu Capital and IDG Capital Partners, plans to raise $500m in an IPO in Hong Kong.

    • 21 Jan 2015
  • Korea’s Yello Mobile sends out RFP for IPO

    South Korea’s Yello Mobile has issued a request for proposals to banks as it prepares for an IPO, with bidders expected to make a presentation to the issuer on Thursday, January 22.

    • 20 Jan 2015
  • CSRC margin crackdown is a shrewd move

    China’s ECM market had a tough start to the week, after measures by the regulator to clamp down on excessive margin lending by brokerages took their toll on stock markets, with equities plunging the most in years. But investors that fell victim to this volatility should take it in their stride. The China Securities Regulatory Commission’s stringent approach is smart — and bodes well for stronger markets in the longer term.

    • 20 Jan 2015
  • India's Gateway Distriparks to spin off rail logistics unit

    Gateway Distriparks, an Indian logistics firm, is listing its rail transport arm Gateway Rail Freight (GRF) in a domestic IPO at the behest of private equity fund Blackstone.

    • 20 Jan 2015
  • Legend mandates two for $3bn IPO in Hong Kong

    Lenovo owner Legend Holdings is looking to list in Hong Kong during the second half of the year in a $2bn-$3bn IPO, with its size and diversified business expected to drive investor interest.

    • 20 Jan 2015
  • CSRC plans reform of IPO rules

    The China Securities Regulatory Commission (CSRC) is planning to simplify the country’s IPO rules to make it easier for Chinese companies to list at home and overseas, according to its chairman.

    • 19 Jan 2015
  • Centurion eyes Reit listing in Singapore

    Centurion Corp, which owns, develops and manages accommodation assets, is considering setting up a real estate investment trust (Reit) in Singapore. The move comes as the company with a S$420m ($316.3m) market capitalisation looks to further grow its worker accommodation business.

    • 19 Jan 2015
  • HKBN to connect for $600m IPO in February

    HKBN, or Hong Kong Broadband Network, plans to start gauging investor appetite for its IPO of around $600m in early to mid-February, say bankers on the listing.

    • 19 Jan 2015
  • Platinum Group vies for $200m Thailand IPO

    Platinum Group, which owns Thailand’s wholesale Platinum Fashion Mall in Bangkok, is looking to raise $200m in a domestic-only offering.

    • 16 Jan 2015
  • PTT’s energy unit eyes Thai listing

    Thai state-backed oil and gas giant PTT is selling 25% of its flagship energy arm Global Power Synergy in an IPO on the domestic stock exchange.

    • 16 Jan 2015
  • Sinopec targets $4bn in year-end HK listing

    ECM bankers are preparing for what could be one of the largest IPOs in Hong Kong this year, as China Petroleum & Chemicals Corp, also known as Sinopec, gets the ball rolling for the roughly $4bn listing of its retail unit.

    • 16 Jan 2015
  • Nanxiang targets March for $300m HK IPO

    Nanxiang Holding, which filed for a Hong Kong IPO at the end of December, is planning to start investor education for the listing in March and has set its sights on raising between $200m and $300m.

    • 16 Jan 2015
  • MCT Consortium plans $129m backdoor listing of GW Plastics

    Malaysian property firm MCT Consortium is set to raise $129m in a reverse takeover of plastics maker GW Plastics.

    • 16 Jan 2015
  • Jasmine infrastructure fund to relaunch $1.2bn IPO

    Thailand’s Jasmine Broadband Internet Infrastructure Fund expects to re-open books on its Bt36.67bn-Bt38.50bn ($1.12bn-$1.17bn) IPO in the first week of February and list before Chinese New Year, which falls on February 19.

    • 15 Jan 2015
  • Huarong, CRSC eye multi-billion HK IPOs

    China Huarong Asset Management and China Railway Signal & Communication Corp (CRSC) are lining up to take the Hong Kong market by storm this year, with both companies looking to bring multi-billion dollar IPOs soon.

    • 15 Jan 2015
  • 1MDB IPO: A chance to get it right

    Just when it looked like state-backed 1MDB was finally ready to put its energy assets on the market for Malaysia’s biggest IPO in years, the listing has come up against another delay. That hardly inspires confidence in the sovereign wealth fund. But with a new president in place, there is now a chance to set things straight — not only for the country’s capital markets but also for the sovereign itself.

    • 15 Jan 2015
  • Philippines on fire as Ferronickel seeks $602m IPO

    Global Ferronickel Holdings, the Philippines’ third largest nickel producer in terms of volume shipped, is set to give a big boost to the country’s ECM market, having filed for a Ps27bn ($602m) IPO and setting the maximum price at which it will sell the shares.

    • 14 Jan 2015
  • CRSC sets $2bn Hong Kong IPO into motion

    China Railway Signal & Communication Corp (CRSC), which helps to develop and control the country's railways industry, is seeking a Hong Kong IPO worth $1.5bn-$2bn in the middle of this year, with confidence already high that the response from the market will be more than positive.

    • 14 Jan 2015
  • Bad debt manager Huarong aims for $3bn IPO

    China Huarong Asset Management, which signed up eight pre-IPO investors in August last year for a stake worth around $2.4bn, is slowly moving forward with its Hong Kong listing plans. The IPO, expected to raise at least $2bn but which could go up to as much as $3bn, is set to receive a lot of attention from investors as peer China Cinda Asset Management has performed well since its own listing.

    • 14 Jan 2015
  • Thailand’s Egat plans $608m infrastructure fund IPO

    State-owned Electricity Generating Authority of Thailand (Egat) is planning to tap ECM investors in the first quarter by listing an infrastructure fund on the domestic market, in a deal expected to raise around Bt20bn ($608m) to become the biggest IPO since 2013.

    • 13 Jan 2015
  • Ferronickel mines for $300m Philippine IPO

    Global Ferronickel Holdings, the Philippines’ third largest nickel producer in terms of volume of nickel shipped, is seeking an IPO of around $300m on the domestic stock exchange having filed a preliminary prospectus with the regulator.

    • 13 Jan 2015
  • GF Securities gears up with application for HK IPO

    GF Securities, which made its debut in the loan syndication market in July last year, has now put its sights on the ECM market too, filing for an IPO in Hong Kong.

    • 12 Jan 2015
  • Malakoff electrifies $1bn relisting in Malaysia

    Malakoff plans to start meeting potential cornerstone investors next week for its more than $1bn IPO in Malaysia, setting in motion a long-awaited spin-off from its parent MMC.

    • 12 Jan 2015
  • Inox kicks off investor education for $200m IPO

    Equity researchers involved in the $200m IPO of India’s Inox Wind have started meeting domestic investors as part of the deal’s pre-marketing process.

    • 12 Jan 2015
  • India’s Sebi plans ECM shake-up

    The Securities and Exchange Board of India (Sebi) is taking steps to speed up equity raisings in the country, proposing ways to cut not just the time it takes to list but also conduct rights issues and other public offerings. The draft proposals come at a time when the Indian ECM market is set for a busy year, with bankers saying the new measures will make life easier not just for issuers but also investors.

    • 09 Jan 2015
  • Netmarble to press play on three Korean IPOs

    South Korean games publisher Netmarble Games Corp is planning to list three of its subsidiaries on the domestic stock market between this year and next.

    • 09 Jan 2015
  • Asian IPOs go binary

    2014 has come and gone, with a fairly honourable tally for Asia’s busy ECM desks. According to Dealogic, last year's ECM volume on Asia ex-Japan exchanges, and excluding China’s A-share markets, was just under $135bn, more than in each of 2013 and 2012. That good news, however, is worth viewing in the context of a few less positive facts, writes Philippe Espinasse.

    • 09 Jan 2015
  • Inox to gauge interest for $200m India IPO from Monday

    India’s Inox Wind is planning to start pre-marketing its IPO of around $200m from Monday, January 12, as the company prepares to become one of the first sizeable listings from the country this year.

    • 09 Jan 2015
  • Sunway Construction seeks $200m in mid-2015 IPO

    Sunway Construction Group (SunCon), the building arm of Malaysian conglomerate Sunway, could raise around $200m in an IPO targeted for mid-2015, even as Malaysia’s benchmark index has slipped 8% since the demerger from the parent was announced.

    • 08 Jan 2015
  • Myanmar readies first stock market as pressure is on to ensure delivery

    Myanmar has moved a step closer to launching its own equity market, signing a joint venture agreement in late December to establish the Yangon Stock Exchange, nearly three years after talks began to set it up. Plenty of scepticism remains about how quickly issuers will start to list, but when they do hit the market, interest from investors is expected to be so strong that there are already fears of unrealistic valuations arising, writes Rashmi Kumar.

    • 08 Jan 2015
  • Asiaray prices near bottom to raise $85m in HK listing

    Advertising company Asiaray Media Group has raised HK$660m ($85.16m) from its Hong Kong IPO, pricing the deal close to the bottom of the range, in what is the exchange’s first big listing of the year.

    • 08 Jan 2015
  • Asian IPO news in brief, January 9, 2015

    Mitra Keluarga to gauge interest for $300m listing — AGS Transact hires banks for $200m IPO

    • 08 Jan 2015
  • Better days ahead for southeast Asia ECM

    After a washout 2014, ECM bankers say southeast Asia looks more promising in 2015, despite falling oil prices and general market volatility.

    • 08 Jan 2015
  • Innocean, LIG Nex1 to start IPO non-deal roadshows

    South Korean companies Hyundai Innocean and LIG Nex1 are gearing up for their 2015 IPOs, with both issuers looking to start non-deal roadshows for their listings soon.

    • 07 Jan 2015
  • Strong IPO pipeline promises buoyant year in India ECM

    Indian equity bulls are gearing up for a busy period with the rally that began in the middle of 2014 expected to lead to a pick-up in issuance this year. The government will certainly provide some much-needed action through divestments of state-owned entities, but all eyes are on the pipeline of new IPOs, which are expected to bolster the country’s equity capital market.

    • 06 Jan 2015
  • Sunway Construction to raise $200m in Malaysia listing

    Sunway Construction Group (SunCon), the building arm of Malaysian conglomerate Sunway, could raise just around $200m in an IPO targeted for mid-2015, even as Malaysia’s benchmark index has slipped 8% since the demerger was announced.

    • 06 Jan 2015
  • Japanese pachinko operator Niraku eyes Hong Kong IPO

    Niraku GC Holdings, the second Japanese pachinko operator to seek a Hong Kong listing in three years, has filed an A1 with the stock exchange.

    • 05 Jan 2015
  • PwC predicts 12% drop in volume of Hong Kong IPOs in 2015

    PwC is predicting another busy year of listings in Hong Kong with 120 companies expected to make their debut. While the number of trades is on a par with last year, the deals' value is expected to drop almost 12%.

    • 05 Jan 2015
  • Asiaray to price $100m HK IPO this week

    Advertising company Asiaray Media Group is aiming to price its HK$772.2m ($99.55m) Hong Kong IPO on Wednesday, January 7, having opened books for the listing at the end of December.

    • 05 Jan 2015
  • Melco decides to fold Hong Kong listing

    Melco Crown Entertainment, which has a market capitalisation of around HK$100.7bn ($13bn), has announced plans to de-list its shares from the Asian stock market just three years after it made its debut.

    • 05 Jan 2015