Last year’s largely winning investor play of piling into IPOs and exiting after they debuted is no longer a slam dunk: 31% of 13 IPOs raising more than US$100mil (RM410mil) posted losses on day one this year, almost double the 17% in 2020.
HONG KONG: The days of the massive first-day pop in Hong Kong’s initial public offering (IPO) frenzy may be nearing an end.
Even as the pandemic spread for most of 2020, the offshore Chinese city’s IPOs and new listings were in hot demand from both institutional and mom-and-pop investors.
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