Maoye and Solargiga set ranges for Hong Kong IPOs

Maoye Department Store aims to raise $905 million as pre-marketing feedback prompts a higher-than-expected valuation, while Solargiga targets $292 million.

The Hong Kong IPO market is starting to pick up pace with no fewer than five companies kicking off their official institutional marketing on Monday or Tuesday this week. Assuming the offerings go according to plan, this should enable them to list before the Chinese New Year holidays which begin on February 7.

Two that are expected to attract a lot of attention are Maoye Department Store, which currently operates 15 department stores and has plans for seven more in...

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