Youyuan International Holdings, a Chinese manufacturer of wrapping tissue paper, has raised HK$645 million $83 million from a Hong Kong initial public offering. The offering, which was priced on Thursday last week, comes in the wake of several other Hong Kong IPOs being either postponed or cancelled and shows that new listings can still get done even in the current volatile environment.
To be sure, this was a small deal, although often it may be even more difficult to drum up interest for a small offering as it can be expected to be a lot less liquid. And liquidity is something investors tend to prioritise when the secondary markets are volatile.
Between April...
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