ADVERTISEMENT

Asian billionaires face IPO test as markets continue to tumble


SoftBank Group Corp. Chairman Masayoshi Son will list his Japanese telecom business, which could raise as much as $23 billion if an over-allotment option is exercised.

SoftBank Group Corp. Chairman Masayoshi Son will list his Japanese telecom business, which could raise as much as $23 billion if an over-allotment option is exercised.

HONG KONG: Three Asian billionaires are testing the resilience of the IPO market, seeking to push through their listings before year-end as stocks continue to tumble globally.

First up is Fosun Tourism Group, slated to price a Hong Kong share sale of as much as $548 million on Friday. The Club Med owner has been telling investors it’s received enough orders to complete the IPO, though it expects to price toward the bottom of a marketed range.

Corporate News

   

ADVERTISEMENT