Hong Kong Buoyed by China’s IPO Freeze as Alibaba Eyes U.S.
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Hong Kong, recovering from the weakest market for initial public offerings in almost a decade, is getting a much-needed boost from an unlikely source -- China’s securities watchdog.
China’s 14-month freeze on domestic IPOs is driving mainland companies in search of capital to go public in the former British colony instead. More than $5 billion of deals originally planned for China have been moved to Hong Kong since September 2012, ranging from port operators to car dealers and apparel makers, based on estimates from bankers who spoke on condition of anonymity.