Hong Kong’s IPO market withers as billion-dollar listings lapse

Hong Kong’s primary-listing market is going through a dry patch in what is normally the busiest time of the year.

HONG KONG: Hong Kong’s primary-listing market is going through a dry patch in what is normally the busiest time of the year.

Several potential billion-dollar initial public offerings ranging from supermarket owner WM Tech Corp. to health-care startup We Doctor Holdings Ltd. have let their applications lapse in recent weeks as regulatory scrutiny and stock market weakness crimps listings.