As many as four listing hopefuls are expected to launch or revive their initial public offerings this quarter as recent market volatility is easing, sources said. Department store operator Maoye International Holdings and port builder SFK Construction Holdings, which shelved deals worth a combined HK$8.27 billion in January amid slumping market sentiment, plan to sit before the listing committee of the Hong Kong stock exchange next Thursday. YY Sports, the retail arm of Yue Yuen Industrial (Holdings) and Neway, a Hong Kong-based karaoke-chain operator, may also attend the hearing as soon as next week for approvals to raise a combined HK$12.4 billion. Market watchers said a stock rebound in recent weeks tempted companies to launch their deals. 'But the market performance in the following weeks will be crucial in deciding whether they go ahead with their offering plans after the hearings,' a source said. With a jump of 734.97 points or 3.18 per cent yesterday, the Hang Seng index has rebounded 6.27 per cent since the Easter holidays. However, Francis Lun Sheung-nim, general manager of Fulbright Securities, remained cautious about the outlook for new listings. If the market remained volatile their prospects would still be 'gloomy'. But 'if the market firms up steadily with an upward trend later then response to the four deals may pick up', Mr Lun said.
