Everyone is hailing the success of two massive China IPOs this week that seems to herald a new uptick in the moribund sector, with relatively strong debuts for offerings from Galaxy Securities and Sinopec Engineering. But I'm going to go ahead and play the contrarian.Thursday, 23 May, 2013, 10:29am
The state-owned brokerage firm sold 1.57 billion shares at HK$5.30 per share, near the bottom of its range between HK$4.99 and HK$6.77, after investor concern over its profitability and growth strategy in the highly fragmented mainland brokerage market.16 May 2013 - 3:53am
The listings of two large state-owned enterprises have captured sizeable demand from fund managers, breaking the gloom of Hong Kong's long-suffering IPO markets.
China Galaxy Securities (the mainland's sixth-biggest brokerage firm) and Sinopec Engineering (a spin-off from Sinopec) are preparing to raise a combined US$3.6 billion through Hong Kong listings.13 May 2013 - 2:39pm
China Galaxy Securities, the mainland's sixth largest brokerage firm by revenue, is pitching its initial public offering to investors by offering to expand its money-making margin financing business at a time when domestic stock markets are showing signs of recovery.10 May 2013 - 5:37am
China Galaxy Securities, the nation's seventh-largest brokerage firm by assets, is expanding its margin financing and securities lending businesses to tackle fragmented and low-margin operating conditions at home.9 May 2013 - 4:39am
The absurdity of the arrangements surrounding the election of the chief executive in 2017 is rapidly becoming apparent. Our leaders in Beijing don't want anyone running Hong Kong who is going to cause them trouble, whatever form that may take.30 Apr 2013 - 4:28am 4 comments
Hong Kong's dismal listings market has shown signs of a nascent recovery with some municipal-level mainland lenders and brokerage houses signalling they will retry offerings amid improving sentiment.5 Apr 2013 - 5:10am