Homecoming is often not a bad thing. That is what some of China's biggest state-owned companies, which in the past decade have raised capital and international exposure through Hong Kong listings, are discovering.
Now, these very companies are looking homewards to raise more money. And the number of them doing so is growing, as issue prices for domestic listings are almost guaranteed a premium to their Hong Kong stock prices. That not only could boost the Hong Kong stock prices, but proceeds from a domestic A share IPO could also help companies buy back their flagging H shares.
Already, Huaneng International Power 902 said it plans to sell up to 350 million domestic...
