Budget hotel group and facade contractor launch IPOs

China-based Hanting Inns and Hotels is aiming to raise up to $110 million ahead of a Nasdaq listing, while facade specialist Far East Global is seeking up to $79 million from a Hong Kong IPO.

While investors remain cautious in light of possible interest rate tightening in China this year, the primary equity markets are showing some signs of revival.

Several issuers that had been expected to come to market after the Lunar New Year holidays in mid-February were delayed as bankers felt investors who had lost money on earlier issues this year would not be keen to jump into other newcomers. However, with the secondary market edging higher over the past month -- albeit ever so slowly as the gains have been interrupted several times by slight corrections -- issuers seem to be regaining confidence in their ability to do an initial public offering.

Last Wednesday, automotive retailer Zhongsheng...

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