Hong Kong's billion dollar idea

Investors in Hong Kong prove that the tech sector flight to quality has yet to take off.

James Regan

April 12, 2000

Tech investors in Hong Kong appear to have gone one better than their counterparts elsewhere. While the rest of the region is scrambling for a slice of profitless internet companies, the cyber-savvy people of Hong Kong have found a revenue-less bit of online action in the form of Greater China Technology, which next week lists on the Growth Enterprise Market.

The company is raising net proceeds of HK$261 million via the placing of new shares at HK$1.38 each, giving it an initial market capitalization of around HK$936 million. This is in the wake of a number of flopped tech sector IPOs, at a time when the Special Administrative...

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