Hong Kong’s dry spell for IPOs set to end with big China deals

Battery materials producer Tianqi Lithium Corp just opened its books for what is set to be the city’s first billion-dollar deal this year, while China Tourism Group Duty Free Corp may relaunch an offering of around US$2bil (RM8.8bil). Along with several other mid to large-sized deals in the pipeline, they are poised to revive a dormant market where firms raised a paltry US$2.6bil (RM11.4bil) between January and June. That’s a 92% slump from last year and the lowest sum for the same period since 2009.(File pic: HK stock exchange square.)

HONG KONG: After a dismal first six months, things are finally looking up for initial public offerings (IPOs) in Hong Kong, as several large Chinese firms line up to list in Asia’s financial hub in the second half.

Battery materials producer Tianqi Lithium Corp just opened its books for what is set to be the city’s first billion-dollar deal this year, while China Tourism Group Duty Free Corp may relaunch an offering of around US$2bil (RM8.8bil).