While the IPO market has slowed in the US because of market conditions, there’s plenty of action in Asia. In addition to Citic Securities’ recent IPO filing, several Chinese businesses are preparing to list on the Hong Kong Stock Exchange. Here are the latest:
1. 10 Fu Tea: it must be a good year for this beverage. Following the Teavana IPO on the New York Stock Exchange, 10 Fu Tea, based in China, is moving forward with an IPO in Hong Kong, despite unfavorable market conditions. It hopes to raise $300 mn.
2. Hongguo International: also based in China and eyeing a Hong Kong IPO in Hongguo International, a shoe manufacturer. The company is looking to raise $250 mn. This continues the trend of consumer business companies filling the IPO pipeline this year.
3. XCMG Construction Machinery: the China Securities Regulatory Commission has authorised the issuance of up to 593 mn shares.
4. New China Life: the company is seeking to raise $4 bn on the Hong Kong Stock Exchange.
Meanwhile, Beijing Capital International Airport Co Ltd is planning to return to public capital markets vai a mainland listing in 2012. The airport boasts the #2 spot in the world in terms of annual passenger throughput: 73.95 mn.