/PRNewswire/ Central China Management (9982.HK) has received initial coverage from BNP Morningstar with "BUY" rating. The target price is set at HKD 3.92.
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/PRNewswire/ Central China Management (9982.HK) has received initial coverage from BNP Morningstar with "BUY" rating. The target price is set at HKD 3.92.
Chilling effect on Hong Kong IPO market during Chinese investigations
10 Jun 2021, 13:55 GMT+10
HONG KONG: After witnessing a flurry of activity last year and at the start of this year, Hong Kong s market for new stock listings has cooled to its slowest pace since 2009 in the wake of increasing Chinese scrutiny of tech firms anti-competitive business practices.
According to data compiled by Bloomberg News, just seven companies have gone public in the second quarter of this year, the lowest figure since the aftermath of the global financial crisis.
First-day performances of IPOs have also taken a hit, with the initial public offerings of warehouse and distribution company JD Logistics and property manager Central China Management in May showing the worst average debut performance in 15 months, data shows.
New Hong Kong listings are tracking at their slowest pace since the aftermath of the global financial crisis, as weaker markets and China’s clampdown on its biggest tech firms chill sentiment.