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Hong Kong Bankers Work Around the Clock as IPOs, SPACs Surge

  • Hong Kong IPOs could surpass the record pace of 2010
  • Banks have full pipelines, turning down work on some deals
Updated on

Hong Kong’s bankers are working around the clock as the region’s companies rush to go public.

Initial public offerings in the city have already hit almost $11 billion, a close to 500% jump from a year earlier, with video streaming platform Bilibili Inc. and search giant Baidu Inc. among companies preparing multi-billion dollar deals. Digital roadshows and clients eager to move faster to capture abundant liquidity -- especially as market sentiment has begun to sour -- means bankers are keeping dawn-to-midnight schedules, say some, even turning down deals where they’re relegated to junior roles.