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Article: GBP 4.5 billion listings provide spark for Hong Kong market

Article from:
Evening News - Scotland
Article date:
April 14, 2005
Author:
Copyright

Business Editor

AFTER a sluggish start for Chinese company listings, Hong Kong bankers are planning to launch deals worth some GBP 4.5 billion in the energy, shipping and banking sectors in the current quarter.

If that figure is met, it would be equivalent to around two- thirds of total activity for the whole of last year.

However, the heavy supply of new shares hitting a lacklustre Hong Kong market could prove a further drag on investor sentiment.

Hong Kong stocks declined about five per cent in the first quarter of 2005, making them the worst-performing in Asia.

The backlog of initial public offerings results from the market's weakness and a looming June 30 deadline for firms that ...

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