IPO pause opens the door for HK placements

Chairman of tobacco flavouring company Huabao sells $150 million worth of shares, while battery maker Tianneng Power raises $50 million from the sale of new and existing shares.

After a couple of weeks with all eyes on initial public offerings, investors last night had two Hong Kong placements to choose from. Chairman Chu Lam Yiu continued to reduce her holdings in Huabao International Holdings with a second sell-down in six months, raising HK$1.16 billion $150 million. And Tianneng Power International raised fresh capital from a HK$387.5 million $50 million top-up placement that comprised both new and existing shares.

The wave of Hong Kong IPOs...

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