The secondary markets may have turned cautious, but Hong Kong's primary equity market remains as zealous as ever. Global equity markets are retreating from recent highs on fear of tighter monetary policy in China and concerns over eurozone debt. After tumbling 2% yesterday, Hong Kong's Hang Seng Index is down 6% in the past five trading sessions. Yet, the city’s IPO market remains sizzling hot.
The latest highlight from the active market comes from Goodbaby International Holdings, a children’s product maker in China, which raised HK$1.47 billion $190 million in a Hong Kong IPO that was nearly 1,460 times subscribed by retail investors. The strong demand triggered a full clawback, which increased the...
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