HK ECM bankers brace for China local bank IPO onslaught
The long anticipated arrival of Chinese provincial banks on Hong Kong’s stock exchange finally got underway this week when Bank of Chongqing began meeting investors for a $600m IPO on Monday. But while some are hoping for an influx of Chinese lenders to boost the Hong IPO market, valuing these companies accurately is a challenge, writes Rev Hui.
After a week of meetings, the pre-marketing process will end and the leads will decide whether to launch bookbuilding. If all goes to plan, Bank of Chongqing could become the first Chinese provincial bank to issue H-shares in Hong Kong.Hong Kong was not its first choice, though. The ...
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