14-03-2014, 09:24 AM
One more term, “IPO fatigue”. SEHK has 17 IPOs in 2014, while SGX has only 4, IIRC. SGX has lots to catch-up...
China developers, especially those focuses on non-first-tiered cities, don't look good from retail investors' point of view...
Chinese developer, theme park operator tumble in HK debuts
HONG KONG — Shares in a Chinese theme park operator and those in a real estate developer sank on their Hong Kong debut yesterday as worries about the weakness in China’s economy left the overall stock market trading at around a one-month low.
Haichang Holdings, which operates amusement parks in China, finished at its intraday low of HK$2.02 (S$0.33), below its initial public offering price of HK$2.45 a share.
Sunshine 100 China Holdings, a real estate developer backed by United States private equity firm Warburg Pincus, fell as low as HK$3.05 before finishing at HK$3.74. Its IPO price was HK$4.00 per share.
Yesterday, the benchmark Hang Seng Index ended 0.7 per cent lower at 21,756.1 points, the lowest close since Feb 10. Retail and institutional investors had shown tepid demand for both stocks during the IPO process, in contrast to the massive rush seen for some offerings earlier this year that spurred some shares to log double-digit gains as they started trading.
Analysts said investors may have started to show “IPO fatigue”, as 17 firms have listed in Hong Kong so far this year, raising US$4.7 billion (S$6 billion), according to data from Thomson Reuters.
...
http://www.todayonline.com/business/chin...-hk-debuts
China developers, especially those focuses on non-first-tiered cities, don't look good from retail investors' point of view...
Chinese developer, theme park operator tumble in HK debuts
HONG KONG — Shares in a Chinese theme park operator and those in a real estate developer sank on their Hong Kong debut yesterday as worries about the weakness in China’s economy left the overall stock market trading at around a one-month low.
Haichang Holdings, which operates amusement parks in China, finished at its intraday low of HK$2.02 (S$0.33), below its initial public offering price of HK$2.45 a share.
Sunshine 100 China Holdings, a real estate developer backed by United States private equity firm Warburg Pincus, fell as low as HK$3.05 before finishing at HK$3.74. Its IPO price was HK$4.00 per share.
Yesterday, the benchmark Hang Seng Index ended 0.7 per cent lower at 21,756.1 points, the lowest close since Feb 10. Retail and institutional investors had shown tepid demand for both stocks during the IPO process, in contrast to the massive rush seen for some offerings earlier this year that spurred some shares to log double-digit gains as they started trading.
Analysts said investors may have started to show “IPO fatigue”, as 17 firms have listed in Hong Kong so far this year, raising US$4.7 billion (S$6 billion), according to data from Thomson Reuters.
...
http://www.todayonline.com/business/chin...-hk-debuts