Hong Kong's new-listings market is winding down its first half on an off note. No fewer than 14 IPOs were pulled from the Hong Kong market in the first six months. And of the 34 new listings that priced in the market in that period, only 10 are trading above their offer price, according to Thomson Reuters data.
Most recently the US$6 billion Hong Kong float of China Everbright Bank was put on hold, likely to be picked up in September.
Everbright joins China Outfitters, Hosa International and Xing Yuan Power among other recently pulled or postponed floats.
On a brighter note, Samsonite (1910) is up 0.7 per cent and Prada (1913) is up 18.9 per cent.
Restaurant chain group Tang Palace (1181) is the top-performing IPO of the first half, gaining 62 per cent over its initial listing price, aligning with the strong appetite for consumer product listings.
The best debut performance this year has been Milan Station (1150), a distributor of second-hand luxury goods that saw its share price surge 95.1 per cent on the first day. The share price is now up 52 per cent.
