Hong Kong’s IPO Market Withers as Billion-Dollar Listings Lapse
- We Doctor, WM Tech let their IPO applications lapse this month
- IPO market in city has slowed down significantly since summer
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Hong Kong’s primary-listing market is going through a dry patch in what is normally the busiest time of the year.
Several potential billion-dollar initial public offerings ranging from supermarket owner WM Tech Corp. to health-care startup We Doctor Holdings Ltd. have let their applications lapse in recent weeks as regulatory scrutiny and stock market weakness crimps listings.