A wave of pre-marketing activity during the past few trading days suggests that the quiet start to the year could be over for Asia’s equity capital markets.
Only three issuers raised more than $100 million during February, but a number of companies are now ready to launch initial public offerings. On Monday, Hutchison Port Holdings Trust HPH Trust announced an IPO that could raise as much as $5.8 billion and Perennial China Retail Trust PCRT started bookbuilding an $862 million offering last Friday, with both business trusts aiming to list in Singapore. The pickup in activity should help to end the first quarter on a strong note.
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