Goodbaby draws strong demand despite cautious market

The retail portion of Goodbaby's $190 million IPO is nearly 1,460 times covered, suggesting IPOs are still hot. However, two market newcomers fell in their debut yesterday.

The secondary markets may have turned cautious, but Hong Kong's primary equity market remains as zealous as ever. Global equity markets are retreating from recent highs on fear of tighter monetary policy in China and concerns over eurozone debt. After tumbling 2% yesterday, Hong Kong's Hang Seng Index is down 6% in the past five trading sessions. Yet, the city’s IPO market remains sizzling hot.

The latest highlight from the active market comes from Goodbaby International Holdings, a children’s product maker in China, which raised HK$1.47 billion $190 million in a Hong Kong IPO that was nearly 1,460 times subscribed by retail investors. The strong demand triggered a full clawback, which increased the...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222