Standard Chartered Banks begins pre-marketing for listing

A research blackout starts today (Friday) ahead of the UK-domiciled bank''s dual primary listing in Hong Kong.
Standard Chartered and its lead manager Goldman Sachs have decided to press ahead with the pre-marketing of a 56.3 million new share offering despite this week's events in the US.

Syndicate bankers believe it makes sense to continue canvassing investor opinion in the hope that global equity markets will recover ahead of the launch of formal roadshows. At the same time, however, a number believe that the deal is unlikely to proceed to the next stage since the threat of a global recession will have a greater impact on the ratios of a bank targeted at the emerging markets like Standard Chartered than many of its nearest comparables in the UK...

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