mixed-outcome-for-hk-ipos-suggests-investors-are-becoming-selective

Mixed outcome for HK IPOs suggests investors are becoming selective

Glorious Property prices in the bottom half for a $1.28 billion deal, while CR Cement raises $825 million after pricing at the top. In Korea, Tong Yang Life Insurance becomes the first life insurer to go public following a $286 million IPO.

The outcome was somewhat mixed for the latest two initial public offerings to price in Hong Kong at the end of last week, suggesting that investors are becoming a bit more selective about where they put their money. This shouldn't be surprising given the multitude of IPOs that are currently in the market and the long list of companies that are still hoping to list before the end of the year.

Also, the Hong Kong equity market -- like many others around the world -- was slightly weaker at the end of last week, with the Hang Seng Index falling 3.1% on Wednesday through Friday. Metallurgical Corporation of China also fell 11.65% in its...

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