Mainland Chinese investment banks and brokerage firms have expanded into Hong Kong, in a bid to profit from the world’s largest IPO fundraising hub last year by volume of deals.
The trend accelerated in the first quarter of 2016 when Chinese institutions climbed up the Asia ex-Japan ECM league tables.
During the three-month period, eight of Asia ex-Japan and Australia’s top 10 investment banks by ECM deal volume were mainland Chinese institutions.
High-profile examples of IPOs fully underwritten by Chinese institutions include the Bank of Tianjin's HK$7.36 billion offering in March.
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