- Shenzhen Transsion Holdings' HK$3.36 billion (US$428 million) Hong Kong share offering closed bookbuilding with preliminary figures showing about 14,000 applications and oversubscription of roughly 3.5 times.
- Retail participation in Hong Kong IPOs has dropped sharply since September. Only two of 12 listings in September drew more than 100,000 retail applicants, versus 11 of 19 listings across July and August.
- Red Avenue New Materials Group recorded the lowest demand in September with 12,645 applicants.
Quotes
“Retail participation in Hong Kong initial public offerings (IPOs) has dropped sharply since September.”
“Shenzhen Transsion Holdings drew a lukewarm response for its HK$3.36 billion (US$428 million) Hong Kong share offering, heightening worries over market sentiment for new listings in the fourth quarter.”