, Columnist
Hong Kong Needs an Ant to Move This IPO Mountain
The listing queue is long, but many aspirants may struggle to meet the kind of valuations being discussed.
Investors in the city tend to be less discerning, prizing profit above all else.
Photographer: Andy Caulfield/Getty Images
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It will take an Ant to move this Hong Kong stock mountain.
Until recently, Hong Kong was an IPO desert. Issuance had been falling for four consecutive years as investors grew weary of deal after deal from state-owned Chinese firms.