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.
Issuers away from Greater China are rare in Hong Kong. The last was Malaysia’s CAA Resources, but that deal in June only raised HK$487.5m. It necessary to go as far back as July 31, 2012, to find the last sizeable transaction with Pachinko operator, Dynam Japan Holdings, raising
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