Investor reaction to main-board initial public offerings from Xinyi Glass Holdings and mobile-phone maker Foxconn International Holdings - together aiming to raise as much as $4.13 billion - has been moderate, despite the overwhelming success of Dynasty Fine Wines Group's debut on Wednesday.
'Overall response to these two listings has been less effusive than expected,' a broker familiar with the issues said.
Investors have taken a wait-and-see attitude in the run-up to the Lunar New Year holiday next month.
Hong Kong fashion retailer IT is nonetheless moving fast, with plans to start marketing its $500 million to $600 million offer next week before its March listing.
Sponsored by CLSA, the company presented its listing application to the stock exchange's listing committee yesterday and will kick off pre-marketing activities on Monday.
Despite being arranged by smaller investment banks, the $765 million share offering of Xinyi seemed to have fared better than Foxconn's $3.37 billion listing amid concerns for the mobile-phone maker's relatively high valuation and deteriorating margins.
