Hong Kong’s push to develop a renminbi equity market may be falling flat despite a possible IPO from Hong Kong Airlines, according to bankers and investors.
The short-haul carrier is aiming to raise $500 million in the city through a dual-currency listing, according to two sources familiar with the situation.
It could file its application by the end of this month and list on the main board by the end of the year, the sources said. JP Morgan is sole sponsor on Hong Kong Airlines’ IPO transaction.
The deal would allow Hong Kong Airlines to sell two sets of shares, in renminbi and...