More to come or just an anomaly? Italy’s M&G Chemicals breaks China hold on IPOs

Italy’s M&G Chemicals is hoping to break the recent stranglehold that Chinese companies have had on Hong Kong IPOs by becoming the first name from outside Greater China to raise more than $100m on the city’s stock exchange in over 12 months. The company faces obstacles, but if its HK$4.59bn ($592m) IPO succeeds there are others waiting in the wings, writes Rev Hui.