Deals
Hong Kong IPOs Head for Worst Year Since 2012
- China Tower’s $10 billion share sale pushed to next year
- Slow progress comes as Hang Seng Index hits decade high
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Hong Kong’s market for initial public offerings is heading for its worst year since 2012 as a combined $20 billion of megadeals are being pushed to next year.
State-owned China Tower Corp. was slated to be one of this year’s biggest deals, with a fundraising goal of as much as $10 billion, according to people with knowledge of the matter. The wireless infrastructure owner, which was initially pushing to list at the end of this year, is now targeting the first quarter of 2018, the people said, asking not to be identified because the information is private.