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20-11-2017, 03:10 PM
Mom and Pop Pile Into Hong Kong IPOs in $163 Billion Bonanza
By Crystal Tse
November 20, 2017, 5:00 AM GMT+8 Updated on November 20, 2017, 11:54 AM GMT+8
Mom-and-pop investors haven’t been this crazy for Hong Kong initial public offerings since 2009.
Hong Kong retail stock buyers placed orders for $163 billion worth of equity in this year’s major deals, according to data compiled by Bloomberg. That’s equal to more than three quarters of the territory’s monetary base. The most popular was China Literature Ltd., a local take on Amazon.com Inc.’s Kindle Store that’s risen 71 percent since it started trading this month.
Small investors in the city are jumping at the chance to buy into higher-growth industries like tech, after years of being offered stock in a string of sleepy state enterprises and commercial lenders from the Chinese hinterland. The most popular offerings this year had well-known backers like Hong Kong’s richest man, Li Ka-shing, and Chinese Internet giant Tencent Holdings Ltd.
More details in https://www.bloomberg.com/news/articles/...on-bonanza
By Crystal Tse
November 20, 2017, 5:00 AM GMT+8 Updated on November 20, 2017, 11:54 AM GMT+8
Mom-and-pop investors haven’t been this crazy for Hong Kong initial public offerings since 2009.
Hong Kong retail stock buyers placed orders for $163 billion worth of equity in this year’s major deals, according to data compiled by Bloomberg. That’s equal to more than three quarters of the territory’s monetary base. The most popular was China Literature Ltd., a local take on Amazon.com Inc.’s Kindle Store that’s risen 71 percent since it started trading this month.
Small investors in the city are jumping at the chance to buy into higher-growth industries like tech, after years of being offered stock in a string of sleepy state enterprises and commercial lenders from the Chinese hinterland. The most popular offerings this year had well-known backers like Hong Kong’s richest man, Li Ka-shing, and Chinese Internet giant Tencent Holdings Ltd.
More details in https://www.bloomberg.com/news/articles/...on-bonanza
Specuvestor: Asset - Business - Structure.
