Xiaomi Rout Throws Spotlight on Hong Kong's Expiring Lockups
- Sky-high valuations in focus after last year’s market tumble
- Early investors may look to exit when possible, Lundy says
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Investors locked into holding newly-listed Hong Kong stocks could only watch as last year’s bear market ate away at their returns. The shackles will soon be off.
Xiaomi Corp. saw a wave of selling after its lockup period -- when key investors are banned from selling stock -- ended three weeks ago. Similar restriction terms are due to end for China Tower Corp. next month, followed by Meituan Dianping and Haidilao International Holding Ltd. in late March. They’re among more than 50 companies whose mandatory holding periods are yet to expire in Hong Kong this quarter, according to data compiled by Bloomberg.