Clawback

  • Flying high in the year of the pig

    Flying high in the year of the pig

    In his latest Clawback column, Philippe Espinasse takes a look at the Hong Kong stock exchange’s new three year plan and its desire to be a global listing hub.

  • Stabilisation profits: sharing is caring

    Clawback columnist Philippe Espinasse turns his attention to one of the ECM world’s best-guarded secrets: the profits banks can make from stabilisation.

  • The Hong Kong paradox

    The Hong Kong paradox

    IPOs worldwide have been derailed by geopolitical developments — except, it seems, in Hong Kong. Clawback columnist Philippe Espinasse investigates.

  • Hong Kong ECM: apply Sod’s law

    Hong Kong ECM: apply Sod’s law

    Clawback columnist Philippe Espinasse says the latest proposals by Hong Kong’s Law Society could spell bad news for international securities lawyers in the city.

  • Kill or cure

    Kill or cure

    The Hong Kong Stock Exchange is looking to boost governance of listed companies through a new proposal, but is this in the best interest of shareholders? Clawback columnist Philippe Espinasse has his say.

  • Licence? What licence?

    Licence? What licence?

    In the latest Clawback, columnist Philippe Espinasse turns his focus to hiring practices in the region's equity capital markets.

  • IPOs — swipe left

    IPOs — swipe left

    As Asian exchanges increasingly embrace the US model for new listings — the introduction of variable voting rights being a case in point — disintermediated IPOs may perhaps soon be the next fad, writes Clawback.

  • The end of cornerstones?

    The end of cornerstones?

    Cornerstone investors used to be the trusted, fail-safe, mechanism that ensured the success of Hong Kong IPOs. Not anymore, writes Clawback columnist Philippe Espinasse.

  • Crazy rich Asian (primary markets)

    Crazy rich Asian (primary markets)

    For all the talk of a deluge of tech IPOs soon hitting the Asian (and especially Hong Kong) markets, the performance of new listings and investor appetite there both remain decidedly subdued, writes Clawback columnist Philippe Espinasse.

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