Investors gel with Shanghai Haohai IPO

Chinese small cap biomedical materials producer poised to benefit from liquidity-fuelled rally pushing Hong Kong stocks closer to A-share valuations.

Biomedical materials producer Shanghai Haohai Biological Technology wraps up pre-marketing on Tuesday for a $250 million to $350 million initial public offering, which looks set to benefit from the liquidity fuelled rally that has been pushing the valuations of Hong Kong listed stocks closer to their Mainland counterparts. 

The deal has been on an accelerated schedule after commencing investor education last Wednesday and appears to have hit a sweet spot in the market. The Hang Seng China Enterprises Index is up 16.1% since the middle of March and the Shanghai Composite Index up 27.4% since the beginning of the year. 

Hong Kong-listed small cap stocks...

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