HKEx introduces Rmb follow-ons, dual FX IPOs, prepares for TSF launch in October

07 Sep 2011

The Hong Kong stock exchange made moves to develop the fledgling offshore renminbi equity market this week, introducing follow-on offerings denominated in the currency and dual currency IPOs. The exchange also announced that its liquidity scheme, the Trading Support Facility (TSF), will launch next month.

But though some bankers said the measures would help speed up the development of the offshore renminbi equity market, most thought the moves would not have a big effect on volumes for some time.

"Introducing renminbi follow-ons could help give the market a fighting chance at becoming liquid, but ...

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